From the daily chart perspective, the candlestick pattern continues with five consecutive bullish candles pushing higher near the upper band. During the day, there was a second attempt to break higher, testing near 74,000 but facing resistance and pulling back. Currently, a long upper shadow has formed, indicating clear selling pressure above this level. Moving forward, it is important to monitor whether the pullback breaks below the key support level, which could lead to a double top formation. From the four-hour chart perspective, the price formed a double bottom pattern, then surged higher with increased volume to break through previous resistance. The second test of the 74,000 key resistance level facing selling pressure and retreating is a normal part of the upward exploration. Currently, after reaching a high and pulling back, the price has stabilized around 71,000. If an effective top-bottom reversal can be established, there is still potential for the bullish trend to continue after consolidation. Therefore, the trading strategy remains to follow the trend—short-term long positions can be taken. Bitcoin can be bought near 69,500-69,000, with targets around 71,000-71,500.

BTC-0,16%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin