Early this morning, Bitcoin experienced a rapid decline, bottoming out near 65500 before stabilizing. During the morning session, the market did not follow the expected second dip; instead, the bulls launched a strong rally, with prices continuously breaking through the 66000 and 67000 psychological levels, causing short positions set earlier in the day to be stopped out and exited. Currently, the price is consolidating around 67500 at a high level, and the overall trend has shifted from weak to strong.



From a structural perspective, the 65500 low in the early morning echoes the previous correction low, forming an initial double bottom pattern. The strong upward surge in the morning effectively broke through the short-term resistance at 67000, which was a high point area of multiple rebounds before. After the breakout, it has turned into support. The hourly chart shows consecutive solid bullish candles, with sufficient buying volume. The rebound was accompanied by significant volume increase, indicating strong market willingness to buy in. Regarding moving averages, the price has stabilized above the MA60, and the MA5 and MA10 are forming a golden cross and diverging upward, indicating a short-term bullish pattern. The MACD fast and slow lines crossed above zero and broke through the zero line after a golden cross below zero, with red momentum bars continuing to expand, showing that the rebound momentum is still ongoing.

Given the current trend from weak to strong, short-term bulls are in the dominant position. Traders can follow the trend and buy on dips. Focus on the 67000-67200 area (support level after the breakout). If the price pulls back but does not break below this area, consider entering long positions in batches. Stop-loss should be placed below 66500. The initial target is 68000, and if broken, the next target can be around 68500.

Risk reminder: Market volatility is high. This analysis is for reference only. Specific operations should be based on real-time market conditions, and strict risk management should be implemented. #国际油价突破100美元 $BTC
BTC0,3%
View Original
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin