Bitcoin Evening Strategy

Recently, the market has been fluctuating with no clear direction. During this consolidation phase, unless you are holding existing positions, it is not recommended to open new ones. Blindly entering the market will only continuously deplete your capital. Currently, Bitcoin remains within a triangle range, with neither bulls nor bears having gained the upper hand. Instead of repeatedly testing and correcting in the sideways movement, it’s better to wait for a clear trend before entering. As long as the lower boundary of the triangle is not broken, the decline will not further expand; if the range is broken downward, focus on the Fibonacci 61.8% support at 65142. A stabilization there could lead to a slight rebound, but a direct break below would target the 1:1 support at 63756.

To break the current sideways and downward trend, an effective breakthrough above 67327 is necessary. Only by stabilizing above this level can the weak trend be reversed, opening the possibility to challenge 69160 later. Currently, the resistance at 67327 has been tested four times without success. After multiple rejections, the bullish momentum appears to be weakening, and breaking through solely on its own strength is quite difficult. If the fifth attempt also fails, it indicates that the bulls are losing strength for now, and the market is likely to retrace downward to find buying support, or wait for positive news catalysts to determine the direction.

Trading Suggestions:

• A volume breakout above 67237 can be followed with long positions, targeting 67851-68510
• A volume breakdown below 66760 with a failed rebound can be followed with short positions
• Hourly chart: Only when above 67100 is there room for upward movement; otherwise, maintain a weak stance
• 4-hour chart: Break below 66358, with support levels at 65638-64918