Looking at the W-structure of Bitcoin's recent rebound from 64,936, 68,146, 65,940, and 69,288, the move has basically played out. The target price at point D around 69,321 has just been hit, and the hourly rebound is nearly complete. Currently, it is testing the upper trendline of the flag pattern. If it doesn't break below, a breakthrough of the previous high at 69,321 is needed to continue the upward push toward 70,618.

If it breaks below the upper trendline of the flag, it will test the neckline at 67,534. Holding above that level would mean sideways consolidation within the range; if it breaks below 67,534, it will test the lower trendline of the flag at around 66,409. The current pullback is on decreasing volume; without increased volume, the decline won't be deep.

As long as it doesn't break below 66,409, the hourly bullish trend remains intact, and there is still a chance for a rally.

$BTC Those currently without positions can observe for now, waiting for the US stock market trend to clarify before finding a suitable entry point. #以太坊基金会质押4620万美元ETH