Today’s Bitcoin Public Outlook (Weekly)

1. Major Cycle Structure: The price started a rapid decline from the intraday high of 67,072.9, with a lowest dip to 66,575.5. Overall, it remains in a clear downtrend channel. The current rebound is merely a weak correction after a sharp decline and does not indicate a trend reversal.
2. Bollinger Bands (BOLL) Signal:
◦ The Bollinger Bands are widening downward, with the upper band (UPPER: 66,784.0), middle band (MID: 66,680.6), and lower band (LOWER: 66,577.1) arranged in a bearish pattern, indicating a typical downtrend.
◦ The price has rebounded near the upper band resistance level (current price 66,752.6, upper band 66,784.0). The upper band is exerting strong resistance, limiting the rebound space, and a pullback may occur at any time.
◦ The middle band (66,680.6) has shifted from a support level to a strong resistance level. If the subsequent rebound cannot stabilize above the middle band, a secondary decline will be triggered directly.
3. Candlestick Pattern: During the decline, the bearish candles have large bodies and strong continuity, fully releasing bearish momentum; during the rebound phase, the bullish candles have small bodies and weak strength, typical of a correction within a downtrend, with insufficient buying support.
Bitcoin: Rebound to 67,000-67,500 suggests a potential move south.
First target: around 66,200
Second target: 65,500 (cautiously)