Evening Bitcoin Market Outlook

Bitcoin has currently fallen below the consolidation range of 77467-76917, starting a phase of periodic pullback. If it fails to regain and run back within this box, it will most likely retest the flag’s upper trendline around 75785. If this level is broken and price returns inside the flag, it will further test the flag’s lower trendline at 74119. Once there is an effective breakdown below 73426, the downside room will open further.
Saturday’s market is often extreme—either narrow-range oscillation or a large move. Since this rally has been relatively strong, a reasonable pullback is more beneficial for subsequent accumulation to push higher; there’s no need to panic too much.

To keep the rebound going, Bitcoin must once again stand above the 77467-76917 box—only then is it possible to retest the previous high at 78323. If it can’t reclaim the box, it can only continue the pullback for repair. Overall, the upward trend is still healthy; this drop is just a normal pullback, not a trend reversal.

In the short term, you can short in line with the trend to catch the pullback, but it’s not recommended to hold short positions long-term. After the pullback, it should still be mainly about going long.

Trading suggestions:
• Break out with volume above 76839, follow with longs on the right side; targets 78332-79297
• Break down with volume below 76021 and the rebound fails to reclaim the level; follow with shorts on the right side
• On the 1-hour timeframe, if it holds above 76839, the upside space opens; if it can’t hold above it, the rebound will lack strength
• On the 4-hour timeframe, break below 76078; support below is 74527-73292

Strictly set stop-losses, execute with light position sizing, and don’t stubbornly hold positions. #GatePreIPOs首发SpaceX
$BTC