Wednesday Afternoon BTC Outlook (Combining Market and Technical Analysis)



Current Situation
Fell below 70,000 in the early morning and moved sideways with narrow fluctuations, facing resistance around 70,200 and support near 69,400.
The major correction after the sharp decline is mostly complete, with weakening rebound momentum. Do not chase longs at high levels.
Afternoon trading strategy (more bearish)
Short positions: Enter shorts gradually around 70,200 and 70,800.
Stop-loss: Above 71,300 (key resistance level).
Target: 69,000 → 67,500.
Key observations:
Breaking below 69,000 opens the downside space; holding above 70,800 suggests exiting short positions.
The US CPI data at 21:30 tonight is a short-term turning point.
$BTC
Risk Reminder
The above is for technical reference only and does not constitute investment advice. Cryptocurrency markets are highly volatile. Trade with caution, set stop-losses, and strictly control risks.
BTC-1.86%
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