Based on the daily chart of Bitcoin, after a rapid correction with three consecutive bearish days and testing support near the middle band, the current small rebound with a bullish candle indicates a slight bottoming. The overall daily chart pattern still remains stable within the triangle range. The current upward trend structure remains stable, and the medium to long-term outlook continues to favor the continuation of the upward trend.


In the short-term hourly chart, the sustained rise of the US stock market has driven the price to break above the upper band with a large bullish candle, forming a short-term strong overbought condition. The price tests support below 79k, showing a pattern of bullish engulfing with a slow upward oscillation. From the overall recent market performance, it is still difficult to see a strong continuation at the current position.
Therefore, after the overbought condition, we expect a correction and repair during midnight and early morning hours. Rebound opportunities for short-term high positions can be considered for layout.
Bitcoin is short around 80,000-80,500, with attention near 79,000.
Altcoin (second coin) is short around 2,270-2,280, with attention near 2,220.
BTC-0.27%
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