【Bitcoin ascending flag formed, rebound target pointing to 79660?】
Big Cake is experiencing frequent small-cycle bull traps and bear traps under the influence of Middle East situation, so we need to raise the cycle relatively to observe the market.
From the perspective of the adjusted 2-day chart, Big Cake has broken through the upper boundary of this triangle and completed pullback confirmation. The upper support is valid, and the structure for continued upward movement remains very clear. Currently, the price is experiencing a pullback under pressure near the 73000 important resistance zone.
With multiple pressures above, any rebound is bound to involve repeated oscillations, so short-term operations carry considerable difficulty.
At this stage of the market, the pullback is estimated to be relatively gentle. After all, the war news hasn't directly smashed Big Cake down, and short-term resilience is still decent. Below, focus first on support in the 68000—69000 range.
Regarding upper resistance, Big Cake has currently formed an ascending flag structure. The position of the upper edge of the flag is the resistance level, approximately around 74900, while also overlapping with the 73000—74000 resistance zone, making the resistance here extremely strong.
Unless there is a volume breakout, it will be difficult to break through directly in the short term, so this level can still serve as a reference for the first position reduction.
If the market can truly break through this resistance zone, the upper target can continue to reference the CME gap around 79660.
One final reminder:
Ascending flags often exist for the purpose of being broken down.
Rebound is rebound, but once the structure breaks down subsequently, Big Cake's overall downtrend has not ended, and the true major-level low point 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
Big Cake is experiencing frequent small-cycle bull traps and bear traps under the influence of Middle East situation, so we need to raise the cycle relatively to observe the market.
From the perspective of the adjusted 2-day chart, Big Cake has broken through the upper boundary of this triangle and completed pullback confirmation. The upper support is valid, and the structure for continued upward movement remains very clear. Currently, the price is experiencing a pullback under pressure near the 73000 important resistance zone.
With multiple pressures above, any rebound is bound to involve repeated oscillations, so short-term operations carry considerable difficulty.
At this stage of the market, the pullback is estimated to be relatively gentle. After all, the war news hasn't directly smashed Big Cake down, and short-term resilience is still decent. Below, focus first on support in the 68000—69000 range.
Regarding upper resistance, Big Cake has currently formed an ascending flag structure. The position of the upper edge of the flag is the resistance level, approximately around 74900, while also overlapping with the 73000—74000 resistance zone, making the resistance here extremely strong.
Unless there is a volume breakout, it will be difficult to break through directly in the short term, so this level can still serve as a reference for the first position reduction.
If the market can truly break through this resistance zone, the upper target can continue to reference the CME gap around 79660.
One final reminder:
Ascending flags often exist for the purpose of being broken down.
Rebound is rebound, but once the structure breaks down subsequently, Big Cake's overall downtrend has not ended, and the true major-level low point 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
