Today, Bitcoin (BTC) showed a persistent bearish trend throughout the day. It started the morning at a high of 69,940 and then plunged sharply, with 15-minute candles forming consecutive large bearish candles, directly breaking through multiple moving average supports. The moving average system quickly formed a death cross and diverged downward, fully establishing the bearish trend.

Although there were several minor rebounds during the session, each was met with resistance at the short-term moving averages. The rebound peaks kept decreasing, and the bulls showed no resistance. The short-term stabilization at 68,227 was brief and followed by a weak rebound, clearly a trap to induce short-term buying during the decline, without changing the overall downward structure.

Recommended operation: Short around 68,880-69,200, targeting 67,200-67,800, with a break below 66,000.