【Bullish Defense Holds, Is a Major Rebound Coming?】
Based on yesterday's analysis, after Bitcoin broke below 67,000, it started testing support downward. Currently, the price is still operating near this critical 67,000 level. This position itself is an important defensive line along the upper edge of the triangle structure. Therefore, the upcoming trend can actually be understood from two perspectives.
First scenario: The rebound structure gradually strengthens.
If the market rebounds next and the rebound height continues to rise, and the bears' two attempts to suppress the price fail to produce new lows, it indicates that in the current battle between bulls and bears, the bulls are gradually gaining the upper hand.
In other words, the bulls are holding their ground in this area. Once market confidence gradually recovers, there could be a genuine rebound trend.
Second scenario: The current rebound is merely a symbolic technical correction.
If the rebound strength is noticeably weak and the rebound space is limited, then caution is needed, as this downward structure may not have truly ended.
In this case, the market is likely to continue downward after a brief correction, potentially testing lower levels.
But even so, it's not entirely a bad thing. Because if the market continues to decline, it may create new significant buying opportunities at lower levels.
Overall, the market is still in a key structural decision phase.
Short-term bulls and bears are still oscillating around 67,000.
Trading idea: Currently, the position is suitable for holding and enduring. Even if it drops further, it's a big opportunity.
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