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Bitcoin's major cycle daily chart closed with a large bearish candle yesterday, with consecutive downward K-line patterns, the price below the moving averages, and the indicator in a death cross, indicating a very clear overall downtrend!
However, it is important to note that continuous downward movements may lead to market-wide rebounds, so caution is advised!
The short-term hourly chart continued to decline this morning, reaching a support rebound at the low point, with a high around 66,000 and a low around 62,200. Currently, the price is showing a rebound, and on the daily chart level, the price deviates from the moving averages, indicating a need for a rebound correction!