Bitcoin Evening Strategy

After breaking below the triangle pattern and the 70,698 neckline, the 70,000 level has also been lost, and the trend is now quite clear. It’s risky to chase short positions late.
Currently under pressure below 70,057, with a high probability of testing the support at 68,825:
• Holding above 68,825 → Range-bound consolidation, limited decline
• Breaking below 68,825 → Hourly head and shoulders confirmed, targeting the previous low of 67,307
To rebound, a re-establishment above 70,057 is necessary, which could allow a rebound toward 70,698 and 71,490; otherwise, upside potential is limited.

Long-entry ideas:
1. Left-side partial buy: between 68,866–67,323, add positions gradually, half position, stop loss at 66,571, target 70,130–71,126

2. Right-side chase: add after breaking above 70,130

If the hourly level stabilizes above 70,130, look for 71,126–72,000;
If the 4-hour drops below 69,377, watch for 68,320–67,263.

The current correction’s 1:1 target is 69,080. Whether it reaches the 1.618 extension depends on this support.
For those holding high-position shorts, consider reducing positions around 69,080 and be flexible with take-profit.