The recent decline is no coincidence; Bitcoin has hit a pressure line. It's encountering resistance along the trendline and declining in a very orderly manner. This decline will likely first come to the lower end of the consolidation zone. Once it breaks through, the consequences could be severe! Will it break through?

I think the probability is quite high because the previous descending flag pattern broke after the Federal Reserve's interest rate decision. Additionally, after the previous 4 rate decisions, Bitcoin declined for 1-2 weeks each time. The situation this time doesn't look optimistic.

From a short-term perspective, around 69,500 is the previous consolidation zone and has some support. I want to see if we can get a larger rebound here before shorting. The more ideal positions are around 71,800 and 73,000.

The endpoint of this decline will likely come to around 68,000 near the lower end of the ascending trendline. However, this is just a rough area. The trendline isn't as precise as a ruler. For those without positions, you can enter an initial long position in Bitcoin near 69,500.#Gate13周年全球庆典 #比特币支撑阻力位分析 #Gate广场AI测评官 #比特币 $BTC $ETH