Bitcoin currently touches the key resistance level on the daily chart, with signs of a secondary rebound and upward surge on smaller timeframes. Existing long positions can be partially reduced.


Remaining longs should focus on the small timeframe retest of the support at 76,500. As long as the four-hour close does not break below this level, longs can continue to hold. The market still looks like a sideways rebound, with upper target pressures still at 79,500—81,000—82,000.
If today’s four-hour close effectively breaks below 76,500, then this small-scale rebound will be declared over, and the market will fall back down to test lower levels. Long positions should be exited promptly to observe, patiently waiting for a retest of the 75,000—74,000 pin zone before re-entering long positions.
BTC1.11%
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