【Bitcoin Ascending Flag Has Formed, Rebound Target Directly Aiming at 79660?】

The major coin, influenced by the situation in the Middle East, has been experiencing frequent short-term manipulations, so we need to adjust the cycle relatively higher to observe the market.

From the perspective of the adjusted 2-day line, the major coin's triangle has broken above and completed a retest for confirmation, with effective support above, and the structure for continued upward movement is still very clear. Currently, the price is in a downward trend near the important resistance zone of 73000.

There is significant pressure above, and any rebound will inevitably lead to fluctuations, so short-term trading is quite challenging.

At this stage of the market, the expected retest will be relatively gentle. After all, the news of war has not directly smashed the major coin down, and the short-term resilience has been quite good. The focus should first be on the support around 68000—69000.

In terms of pressure above, the major coin has currently formed an ascending flag structure. The upper part of the flag is the resistance level, approximately around 74900, which overlaps with the resistance zone of 73000—74000, making the pressure here very significant.

Unless there is a substantial breakout, it will be quite difficult to push through directly in the short term, so this area can still be used as a reference for the first reduction in positions.

If the market can indeed break through this resistance area, then the target above can continue to reference the CME gap near 79660.

Lastly, a reminder:
Ascending flags often exist to be broken down.

A rebound is just a rebound; once the structure is broken in the future, the overall downtrend of the major coin is still not over, and the real large-scale low may not have appeared yet. Everyone must keep this in mind.

#比特币重新站上7万美元大关 $BTC #BTC $ETH