Bitcoin has been declining for five consecutive months. Today, the weekly chart closed within the Vegas 144/169 channel, hoping to support the 😊 daily RSI value dropping to a single digit 9, indicating severe oversold conditions. There is a strong rebound demand at the current position. We have repeatedly built long positions around 75,000. If this level holds without a stop-loss, these positions can be held toward the gap area of 78,000-84,000. If unfortunately stopped out near the cost basis, the previous lows at 73,100/71,700 can still be used to gamble on a rebound. The gap will eventually be filled; this is called mystical crypto trading🤭.

At the monthly level, Wave A's decline is nearing its end, and Wave B's rebound is about to begin. The bear market won't continue to decline in a straight line; Wave B's rebound is meant to set the stage for Wave C's subsequent decline. No need to worry excessively about long positions at 75,000; as long as they are held without a stop-loss near the cost, the gap area of 78,000-84,000 can be maintained. Right now is the last darkness before dawn.

Resistance levels above: 78,000/80,000/82,000
Support levels below: 75,100/73,100/71,700$BTC