Daily Bitcoin Analysis – BTC

From a major BTC perspective, the overall structure remains on the bearish side of the bearish trend. The previous support at the 582 level still exists in the current chart, but after multiple retests last week, its support effect will gradually weaken. The core of the short-term battle will be around 56,488.
Whether or not this area is broken in the future is also key to determining if the third sideways consolidation has arrived.
To put it simply: before the 564 area is broken, the daily chart will form a triangular contraction with 564 as the low. If it is effectively broken, it may enter a new rapid decline channel and then seek support in the 46,000–42k area (key). There will be transitional phases in between, avoiding direct thinking patterns.
From the current medium- and short-term trend, various levels are generally either broken or under pressure. The current price zone has not generated a valid buy point, but there is an accumulation structure awaiting a breakout. Considering the limited upside space and the potential for divergence-induced selling pressure, no spot orders are given. Downside is still the support area for looking longer and trading shorter.
Therefore, short-term bulls should mainly wait for further price dips to arrive at the corresponding support levels before considering quick-in, quick-out opportunities. For those who like to short, wait for clear divergence selling pressure to appear.
Short-term resistance: 60,860–61,187
Second resistance: 61,890–62,377
Short-term support: 58,402–57,910 (watch the chart, slow decline, quick in and out)
Second support: 56,677–56,177 (can be placed at minor levels, quick in and out)
*The 50,410–47,710 area can be placed long-term, valid for 60 days. #BTC