BTC is having a strong upward day: after a pull from the 24h bottom range around 67–68k up above 72k, the daily fluctuation range has expanded by more than 6k USD. The increase is evident but the price has also moved quite far from the short-term bottom.
If BTC holds the support area of 71–72k (the middle of today's range) and does not close the H1 candle below 71k, there is a high chance it will continue to retest the resistance zone of 73.5–74k. If it decisively breaks above 74k with good volume, the next target area could expand to around 76–78k.
If the price drops below 71k and loses 70k, the intraday buying pressure may weaken, and BTC could easily return to test the 68–67k area (the 24h bottom area). Losing 67k would mean the short-term upward structure is essentially broken, posing a bull trap risk for those FOMO buying positions.
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If BTC holds the support area of 71–72k (the middle of today's range) and does not close the H1 candle below 71k, there is a high chance it will continue to retest the resistance zone of 73.5–74k. If it decisively breaks above 74k with good volume, the next target area could expand to around 76–78k.
If the price drops below 71k and loses 70k, the intraday buying pressure may weaken, and BTC could easily return to test the 68–67k area (the 24h bottom area). Losing 67k would mean the short-term upward structure is essentially broken, posing a bull trap risk for those FOMO buying positions.
$BTC
$ETH
$SOL
#Bitcoin❗ #BTC #trading #crypto