Bitcoin Evening Analysis


Bitcoin has recently pulled back and broken below the bearish flag pattern. The lower boundary of the pattern has now turned into resistance.
• If it re-enters the flag pattern range, it is likely to continue consolidating sideways. However, if it cannot break the early session's spike high, it will remain weak;
• If it cannot re-enter the flag pattern, it will trade sideways at the lower boundary. As long as it does not break below the illustrated low point, the decline will not accelerate. Once it effectively breaks down, it will test the support at 65665.
Trading Suggestions
• A volume breakout above 67172 can be considered a buy signal for a rebound;
• A volume breakdown below 66704 with a failed attempt to rebound and hold can be followed by a short position, with strict stop-loss;
• 1H: Hold above 67172, with targets at 68239–69193. If it cannot stay above 67712, the rebound is invalid;
• 4H: Break below 66492, with support levels at 65744–64930.
BTC0.16%
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