$BTC Bitcoin Roadmap and Suggestions

Has this wave of Bitcoin's rebound ended? Based on the AB=CD pattern, this short-term rebound is basically complete, as point D corresponds to the 1:1 upward target at around 69,321, which has just been hit. Currently, Bitcoin is testing the upper boundary of the flag pattern. As long as the price respects the upper boundary without breaking below, it needs to break the previous high of 69,321 to aim for 70,618. If the flag pattern breaks downward, it will test the support at the neckline of 67,534, which could lead to a consolidation between 69,321 and 67,534. If the neckline at 67,534 is broken, Bitcoin will likely undergo a correction to retest the lower boundary of the flag pattern, around 66,409. The three red-circled bearish candles in the chart currently show decreasing volume during the pullback, with no increase in volume. As long as volume remains low, the decline won't deepen much or expand. For those looking to go long, remember that no matter how Bitcoin pulls back, as long as it doesn't break below 66,409 on the hourly chart, the bullish trend remains intact and there are still upward opportunities. Breaking below that would be a different story.

Bitcoin with volume breaking above 68,808 is an aggressive entry for long positions. A volume-supported drop below 68,315 and a rebound that fails to recover should be considered for short entries, with proper stop-loss placement. If Bitcoin breaks and holds above 68,808 on the hourly chart, the next target is 69,456-70,420. Without a break above 68,808, the move is ineffective. On the 4-hour chart, a break below 68,060 suggests a downside target of 67,339-66,397.

The recent upward move on the 4-hour chart just reached the support level of the white arrow trendline and then pulled back. Due to the order placement feature, I’ve been watching the 1-hour chart without switching to the 4-hour chart in time, missing the best short entry. Otherwise, a small pullback could have been captured. Once missed, it’s best not to think about both long and short positions simultaneously. That mindset is the start of losses. Currently, I give Bitcoin three 4-hour candles to confirm the trend. If all three candles fail to break the Fibonacci 61.8% level, a 4-hour correction is likely. If within these three candles the price breaks above 61.8%, Bitcoin will continue challenging the 78.6% and 1:1 levels. Breaking the 78.6% level signals a 4-hour reversal. When 61.8% and 78.6% levels serve as support, they are strong supports; once they turn into resistance, they become tough barriers. A breakout through clear skies indicates continuation upward; failure to break means the 4-hour consolidation continues. Pay attention to volume changes.

The above is just personal advice. Please follow Sister Lin’s layout for specific strategies.