Recently, the performance of Bitcoin ( BTC ) in the market has attracted attention. Observing the 4-hour Candlestick Chart, the BTC price shows a trend of fluctuating downward, with the overall focus gradually shifting downwards. The short-term moving averages exhibit a downward trend, while the medium to long-term moving averages create resistance above, and the overall moving average system shows a state of short positions arrangement. This phenomenon reflects that the medium to long-term bearish sentiment in the current market has not yet dissipated, and there is a lack of obvious long positions reversal signals in the short term.

In the current market situation, investors need to closely follow two key price levels: the support level formed by the previous low points below, and the dense resistance area formed by the intertwining moving averages above. If the price effectively breaks below the support level, it may further seek new support; whereas if it can break above the resistance area, it may alleviate the current short positions pressure and attempt to initiate a rebound.

Looking ahead at the recent trends, if there are no significant positive or negative factors affecting the market, the price of BTC is likely to continue oscillating or slowly trending down within the current range until a clear support level is found or a key resistance is broken. Investors should closely follow the changes in trading volume: if there is a significant breakout above key resistance, it may indicate the start of a rebound; conversely, if the support level is broken with high volume, the downward potential may further expand.

In this market environment, investors should maintain a cautious attitude and manage risks effectively. At the same time, they should closely follow market changes and be prepared for possible opportunities. Whether it is a breakthrough or a decline, changes in trading volume will be an important indicator for judging market trends. In addition, paying attention to macroeconomic conditions, regulatory policy changes, and the movements of large institutional investors will also help to better grasp the pulse of the market.