Bitcoin's market price is over 76,400; so what will happen next? Let's analyze.

Chart 1: EMA weekly system, as we discussed before, the start of a bear market is usually accompanied by the EMA moving averages crossing from short-term to long-term in succession, then after a period of consolidation at the bottom, they begin to cross back up, signaling a return to a bull market. Currently, the EMA moving averages are still sloping downward quite steeply, and we are far from the stage where the market consolidates at the bottom and accumulates enough chips. Also, the current bear flag pattern has not been broken through, so it’s clear that we are still in a bear market.
Now look at Chart 2: Bitcoin is still within a small upward channel. Yesterday, we mentioned that testing the lower band around 73,800 has support. After bouncing from support, it is currently rebounding. Combining with Chart 3: the current position is also testing the Fibonacci 0.618 level of the previous correction wave at around 76,600. A potential head and shoulders top pattern can also be seen. If it breaks through and stabilizes above the 0.618 level at around 76,600, it is very likely to test the upper boundary of the channel again. There is also a bearish flag pattern with an upper boundary around 78,000-80,000. If it cannot hold steady, it may break down and fall to around 70,000.
Therefore, the overall trading suggestion is: medium to long-term low-leverage trading, mainly shorting. Partners who previously built positions near 78,000 can hold on, and if it reaches around 78,000 again, add to the position. Around 80,000, add a third position. For those not yet in the market, now at about 76,500 is a good entry point for a core position, then follow up with additions near 78,000 and 80,000, with a stop loss at 82,600.
$BTC ‌#比特币反弹