Today’s Bitcoin outlook (Tuesday)

1. Market structure: Rallies fade, bears dominate
1. Intraday trend: After reaching a high of $2174.07 in the morning, the price continued to weaken, with highs gradually decreasing and lows continuously shifting lower, forming a one-sided downtrend. Bulls are completely powerless to reverse.
2. Bollinger Bands (BOLL) signals:
◦ Price has been falling from the upper band ($2112.54), directly breaking below the middle band ($2104.41), currently trading near the lower band ($2096.28). The Bollinger Bands are diverging downward, indicating a clear bearish trend.
◦ The middle band at $2104.41 has shifted from support to strong resistance; any rebound to this zone will face heavy selling pressure.
3. Volume and funds: During the decline, volume increased, coupled with a 24-hour net outflow of $11.87 million, indicating heavy selling pressure and continuous capital exit, with no signs of major players supporting the market.
2. Bitcoin retracement to 2020-2050 could signal a further decline
First target: around 1980
Second target: around 1950 (cautiously)