Bitcoin is set to release three major inflation data reports this week: the Federal Reserve meeting minutes, the US core PCE, and March CPI. Market expectations for rate cuts continue to cool down, the US dollar index remains relatively strong, and global risk asset valuations are under pressure; combined with recent geopolitical sentiment fluctuations, risk-averse capital preferences are rising. As a high-risk asset, Bitcoin lacks sustained upward support on a macro level.

The 4-hour chart shows Bitcoin maintaining a generally weak oscillation, with rebounds consistently suppressed by the middle band of the Bollinger Bands at 67209. Bulls are unable to break through key resistance. On the 1-hour chart, after a rally to 67269, a long upper shadow formed, touching the upper Bollinger Band and facing resistance, then pulling back. The KDJ indicator is overbought and turning downward, volume is decreasing, indicating short-term bullish momentum is exhausted and a clear correction signal.

Market outlook: In the short term, the strong resistance zone is between 67250-67270, making a breakout difficult. Key support is at 66990; if broken, the next target is around 63000, with further declines expected if the level is breached, continuing downward with a 5-digit prefix.

If Bitcoin breaks above and stabilizes above 70000, a position could be considered around 72000, with targets sequentially at 69000, 65000, and 62000.