Today's Market Outlook

Daily Chart: After a pullback from high levels, the downward trend is slowing. RSI at 42 indicates oversold conditions and a need for a correction; MACD green bars are shrinking, showing weakening bearish momentum.

• 4-Hour Chart: The price is consolidating within a descending channel, with a low-level golden cross on the KDJ indicator and extremely low trading volume—this suggests a low-volume rebound before a potential trend reversal, with short-term selling pressure easing.

• On-chain Data + Sentiment: The fear index is at 28 (extreme fear), with a high proportion of long positions being liquidated; exchange reserves are decreasing, and institutions are accumulating below 69,000, indicating signs of bottoming and accumulation.

• Key Support Levels: 68,800–69,000 represent institutional cost basis plus recent lows. Multiple tests have not resulted in a decisive breakdown, confirming strong support.

Bitcoin: If it pulls back to 67,500–67,000, prepare for a move upward.

First target: around 68,500

Second target: 70,000 (cautiously) #Gate13周年全球庆典 $BTC