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The overall structure of Bitcoin is now extremely clear. Currently dominated by bears, weakness is undeniable. Multiple timeframes are resonating in a weakening trend. The daily highs are gradually decreasing, and the lows are continuously being refreshed. The price is firmly suppressed within the standard downtrend channel. The bearish momentum is clear and strong.
The moving average system has completed a bearish alignment. The price remains under pressure from key moving averages throughout. Every rebound becomes a new selling point. Bulls are unable to mount a strong counterattack. The mid-term downtrend structure remains intact and unbroken, reinforcing the ongoing bearish dominance.
Trading suggestion: Short around 69,400-70,000, targeting 66,000-65,000. If broken, continue to look lower.