Today's Bitcoin market has experienced significant volatility, with the current price around $67,300. From the perspectives of several analysts, Bitcoin may continue to pull back in the short term. Here is a detailed market analysis:

Currently, Bitcoin is hovering around an important support level of $66,600. If it breaks below this level, it may further decline to $65,000 or even lower. Some analysts believe that the target for the pullback could be around $49,000, which is a more long-term forecast.

From a technical chart perspective, Bitcoin is undergoing a pullback process. The four-hour chart shows that it is difficult to break above $67,400; therefore, a continued pullback is expected. Meanwhile, the daily chart indicates that Wave C is a downward impulse wave, with the endpoint possibly around $49,000. This pullback is a correction of the previous rise from $59,000 to $69,000, and a pullback range between 0.382 and 0.618 is normal.

In addition, regarding market sentiment, there is intense competition between bulls and bears in the range of $66,500 to $68,000, forming a volatile zone. In this situation, investors need to pay attention to market signals, avoid frequent operations, and wait for the market to provide clearer direction.

Concerning future trends, some analysts believe that Bitcoin may not reach new highs in October, but others are firmly optimistic about Bitcoin's long-term prospects, believing that after the pullback ends, there is still potential to break new highs. Especially considering factors such as the upcoming elections, the market may experience more uncertainty.

Overall, in the short term, Bitcoin faces certain downward pressure, and investors should closely monitor the support level of $66,600 while managing risks. If you plan to enter the market, you can choose to build positions in batches near the support level while setting a stop-loss point. #btc