Bitcoin's recent trend reveals some signals worth paying attention to. Let's look at a set of key indicators—MA5 is at 3118.83, MA10 is at 3120.55, and MA30 is at 3119.51.

From the moving average performance, MA5 has already fallen below MA10, forming a clear short-term death cross. More importantly, the price has been operating below MA5, indicating that the short-term upward momentum has basically been exhausted. Meanwhile, MA10 and MA30 are in a winding state, and the market has entered a phase of oscillation and consolidation. Here, MA10 (3120.55) becomes the first resistance level. If a rebound cannot quickly push back above it, the downward trend will continue, and the next focus will be the resonance area between MA30 and the middle band of the Bollinger Bands.

Looking at the MACD from another angle: DIF=1.22, DEA=2.43, and the histogram shows -2.40. DIF has consistently remained below DEA, and the death cross pattern is still ongoing, indicating that the bears are still in control. The negative value of the histogram is expanding, which shows that the downward momentum is gradually strengthening. Currently, there are no signs of a volume-contraction rebound.

Position-wise, Bitcoin is trading sideways around 3130, with resistance at 3160 and 3180. On the downside, first watch 3089, and further down is the 3045 level.