On the 3rd, weekend Bitcoin midday analysis:


The daily chart shows a rebound followed by a decline, forming two consecutive bearish candles. In the short term, it is stopping around the midline, so we still need to watch the support at 67,700. The short-term trend is definitely weak; a breakout could lead to further declines. From the hourly chart perspective, the short-term structure is weak. Since touching the high of 74,000, it has been oscillating downward with little strength for a rebound. Although the decline has paused, there has been no effective rebound action. Therefore, the current rhythm continues to favor shorting on rebounds.
The weekly chart shows a long upper shadow, indicating that the resistance at 74,000-75,000 may indeed be significant.
Thus, the short-term plan for the weekend is: consider short positions on rebounds around 68,800-69,300, and after a pullback to the 67,500-67,000 zone and stabilizing, consider going long. Overall, expect small-range oscillations.
BTC-3,55%
ETH-3,71%
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