Afternoon market conditions took a dramatic turn. After a rebound touched $74,250, the market failed to sustain the uptrend and instead experienced a sharp spike-down, plunging directly to around $72,200, with a one-sided decline of nearly 2,000 points. Long positions established at $74,200 unfortunately hit stop losses of over 750 points. Currently, prices are temporarily holding near $72,300.

From a technical structure perspective, this afternoon's sudden high-volume selloff directly broke through the key support level at $73,500 that was confirmed multiple times during the morning session. The breakdown of this level indicates that the short-term bullish structure has been damaged, and market sentiment has shifted from strong to weak. Although prices are temporarily catching a breath at $72,200, from an hourly perspective, this decline exhibits characteristics of being rapid, continuous, and accompanied by increasing trading volume—a typical bull-trample style escape. If subsequent rebounds fail to quickly reclaim the lost ground at $73,500, rebounds will likely face secondary pressure from short sellers, and the overall trend will enter a phase dominated by adjustment or bearish sentiment.

Operationally, it is recommended to focus on shorting after rebounds encounter resistance, maintaining a trend-following approach. Key attention should be placed on $73,500 above, which has transformed from support to resistance. If prices rebound into the $73,000-$73,300 range and show signs of stagnation, consider light-position short positions, targeting below $72,200. Meanwhile, note that if the market continues to fail to hold above $72,200, there is a possibility of further exploration for support, with attention to the support zone at $71,000-$71,500 below. #Gate13周年全球庆典 $BTC