$BTC Evening Viewpoint:
The bullish flag pattern of Bitcoin has been broken, and it is now preparing to break the key resistance level at 68232. As long as this level can be broken, we can look upwards to the resistance zone of 69210-70069. If it still cannot stabilize above the resistance level of 68232 this time, as long as it does not fall back into the flag pattern, it will avoid a deep pullback; the corresponding position is 66658. Looking at the candlestick pointed out by the red arrow below, this candlestick has formed a hammer line, indicating that there is support below at the position of 66658. Therefore, as long as it does not break below 66658, it will not return to the flag pattern.
As long as it can maintain operation at the upper boundary of the flag pattern, even if it cannot break through 68232, it still has the momentum to push upwards. If it breaks below 66658 and returns to the flag pattern to oscillate, there will be insufficient strength, and it will also test the support near 65123 below.
Looking at the position circled in the red box, it shows two bullish engulfing patterns; what are you waiting for if you haven't gone long yet? Even if these two bullish engulfings appeared and you did not go long, when a higher high appears after breaking the neck line marked by the white arrow, you should also chase the long position. Did your teacher not tell you? My classmates and I all went long and are still holding; although we are in a bear market, there are still opportunities to go long.
Bitcoin broke through 68157 with volume; chase the long position on the right side. 67503 broke down with volume, and the pullback couldn't recover, so chase the short position on the right side. Set proper stop losses.
Bitcoin has broken through and stabilized at 68157 on the hourly level, looking up to 69210-70069. If it cannot rise above 68157, it will not go up.
On the 4-hour level, it has broken down at 67505, looking down to 66448-65979.
$BTC has formed a potential head and shoulders pattern on the 4-hour level, with the left shoulder and head already established, just waiting for the right shoulder to form. The approximate position of the right shoulder corresponds to the left shoulder around 70079, but a prerequisite is that the pullback must not break below the support of 65167; breaking this support will cause the head and shoulders to fail, and you should not expect to go up anymore. For the head and shoulders to be valid, the right shoulder's position is a good place for the left side to touch the top; it is better to make a mistake than to miss the opportunity. The position circled in the red box below is a bullish engulfing pattern on the 4-hour level. As long as it does not break the highest price of the bullish engulfing pattern on the pullback, the 4-hour level will continue to show a rebound trend. Be patient and wait for the head and shoulders to form. Meeting adjourned.
