Deep Analysis of Bitcoin Non-Farm Market: Trend Reversion After Fake Breakout

Recently, Bitcoin has been oscillating within the high range of 68,000–72,000, with intense tug-of-war between bulls and bears. Today’s market faced renewed pressure, with prices sharply falling from the upper levels, ultimately losing the key support at 68,000 and briefly dropping to around 66,300 seeking support.
Non-farm payroll data became the trigger for a market turning point, rapidly pulling Bitcoin up from the 66,300 low to a high of 68,800 USD, forming a strong rebound. However, after reaching 68,800, the price quickly turned downward, falling back below the hourly middle line, and failing to stabilize, ultimately confirming a typical “false breakout” or “trap” pattern. Such movements often indicate that major funds are offloading during the rebound, with heavy selling pressure above, and market sentiment remains dominated by bears.
From a technical perspective, the price once again broke below the 67,000 level, indicating a short-term weakening trend. If the bears continue, it is expected to fill the 66,300 gap and further decline to the 65,800–65,000 zone. If this zone is broken, attention should be paid to potential support levels at 64,200–63,800.
However, if the price can effectively stabilize around 66,000 and form a clear bottom signal, there is still a chance for a rebound tonight, retesting the key resistance zone at 67,800–68,500–68,800. In terms of trading strategy, it is recommended to base decisions on structural breakouts, avoid blindly bottom-fishing or chasing longs, strictly control risks, and follow the trend.