Bitcoin surged to a new high of 75983 before pulling back, causing many to feel anxious. However, this is entirely unnecessary. The pullback is essentially consolidation and accumulation, providing entry opportunities for capital not yet positioned, representing healthy market adjustment.
Although the previous converging pattern did break through, the price has continued to oscillate and consolidate above 73833 without experiencing sustained decline. Even if it temporarily breaks below 73833, there is no need to panic. The level of 72883 below is a strong support that has not been pierced through two previous pullbacks.
Bitcoin cannot maintain extreme rallying forever. This type of movement actually lacks value for chasing into. Before breaking below 72883, the overall uptrend remains intact and continues to operate in a strong zone.
The starting point of this rally is 70431, and current prices are far from touching this level. The hourly-level bullish structure is very healthy. Even if it subsequently breaks below the starting point, bulls still have room for counterattack. There is absolutely no reason to panic now.
I actually look forward to prices pulling back to around 70431 to establish long positions—I just hope the market provides the opportunity. When facing strong support zones, it's worth reasonable speculation. Trading requires rational approach to stop losses.
Short-term focus is on the 74410 breakout situation. Only holding steady at this level provides momentum to challenge the previous high. If it remains range-bound, it will likely trade within 74410-73833.
Operational Reference
• Breakout above 74432 on volume, can follow up with long positions, target 75769-76721
• Breakout below 73761 on volume with weak retest, can follow up with short positions
• If 4-hour level breaks below 73538, watch 72874-72209 below
Implement strict risk management and approach market fluctuations rationally.
$BTC Evening Market View
Bitcoin surged to a new high of 75983 before pulling back, causing many to feel anxious. However, this is entirely unnecessary. The pullback is essentially consolidation and accumulation, providing entry opportunities for capital not yet positioned, representing healthy market adjustment.
Although the previous converging pattern did break through, the price has continued to oscillate and consolidate above 73833 without experiencing sustained decline. Even if it temporarily breaks below 73833, there is no need to panic. The level of 72883 below is a strong support that has not been pierced through two previous pullbacks.
Bitcoin cannot maintain extreme rallying forever. This type of movement actually lacks value for chasing into. Before breaking below 72883, the overall uptrend remains intact and continues to operate in a strong zone.
The starting point of this rally is 70431, and current prices are far from touching this level. The hourly-level bullish structure is very healthy. Even if it subsequently breaks below the starting point, bulls still have room for counterattack. There is absolutely no reason to panic now.
I actually look forward to prices pulling back to around 70431 to establish long positions—I just hope the market provides the opportunity. When facing strong support zones, it's worth reasonable speculation. Trading requires rational approach to stop losses.
Short-term focus is on the 74410 breakout situation. Only holding steady at this level provides momentum to challenge the previous high. If it remains range-bound, it will likely trade within 74410-73833.
Operational Reference
• Breakout above 74432 on volume, can follow up with long positions, target 75769-76721
• Breakout below 73761 on volume with weak retest, can follow up with short positions
• If 4-hour level breaks below 73538, watch 72874-72209 below
Implement strict risk management and approach market fluctuations rationally.