Today’s Bitcoin Public Outlook (Saturday)

1. Overall Market Trend Today
The short-term decline has nearly bottomed out, and it has reached a strong support level with clear signs of stabilization. Today, the focus is on a rebound and upward movement.
2. Reasons for Bullish Outlook
• Daily Chart Level
The previous continuous decline has now reached a critical support level, with decreasing selling pressure. There are signs of stabilization, and funds are starting to enter the market to buy in.
• 4-Hour Chart Level
The price shows signals of stopping the decline and stabilizing. Indicators are already oversold, and there is little room for further downside. A rebound and correction are likely, with signs of a turnaround on smaller timeframes.
• Volume Structure
During the decline, trading volume gradually decreased, indicating that no one is willing to sell at lower prices. Selling pressure is weakening, and once buying interest enters, the price can easily rally.
3. Key Levels
• Support Level: If the price does not break below this level, it is safe, and a rebound is highly probable.
• Resistance Level: The first target for the rebound; if the price stabilizes here, it can continue to push higher.
4. Simple Strategy
Buy low at support levels, avoid chasing high, hold onto key supports, and watch for a rebound and correction in the market.
Bitcoin: If it retraces from 65,700 to 65,200, it can move north.
First target: around 66,700
Second target: 69,000 (cautiously)