This round of Bitcoin has pulled back from the earlier peak. After a long period of sufficient bearish pressure being fully released, the low at 59080 completed confirmation of a double-bottom structure, and the downside momentum has been completely exhausted.

On the daily timeframe, the price is no longer continuing to make fresh new lows, and the lows keep rising. This is a typical pre-signal of a bottom reversal. The MACD bearish histogram bars (green) are continuously shrinking, and a daily-level golden cross bullish signal is about to form. However, the short-term rebound strength is insufficient, so trend confirmation has not yet been completed.

Right now, many traders in the market are still fixated on a bearish “southbound” trend, ignoring that the bottom structure has already been completely changed. The short-term rebound followed by a pullback is being viewed as bearish continuation—but in reality, it’s the bulls retesting and confirming support.

As long as the price does not effectively fall below the previous key low, the downtrend on the larger timeframe has already ended. All current range-bound consolidation and adjustments are accumulating energy for the subsequent bullish push. The medium- to long-term bullish setup has already been quietly established.

Trading suggestion: For aggressive traders, go long directly at the current price; for more conservative traders, go long around 65400-65000, targeting the area around 66700-67200. If 68000 breaks, go long/hold for the long-term toward 72000. For risk control, determine your defenses based on your own position size.
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