$BTC Evening Viewpoint:

Bitcoin broke below the bearish flag pattern and attempted an upward rebound after breaking the pattern, but failed. The position circled by the white box below shows a bearish engulfing pattern, indicating a correction is currently underway. The immediate resistance for Bitcoin is around 66,885, corresponding to the lower boundary of the bearish flag pattern. Although Bitcoin has declined, it has not broken below the neckline at 66,000 indicated by the red arrow or the support zone of 65,590 circled by the white box on the left. Until this support zone is broken, the decline is unlikely to expand significantly. If this support is effectively broken, the next test will be around the previous low of 64,930. If the previous low holds, the decline may stabilize; if it doesn't, further drops are possible, potentially down to around 62,000. To stop the decline, Bitcoin must re-enter the flag pattern to prevent further downward movement. To rebound, it needs to break through the resistance at 67,481. Without re-entering the flag pattern and breaking 67,481, a meaningful rebound is unlikely.

For Bitcoin with volume, a breakout above 66,906 suggests a long entry targeting a rebound, while aggressive traders might short below 66,060 with a stop at 67,287 and take profit between 65,000 and 64,162. Conservative traders waiting for a rebound should wait until it reaches the 67,889-68,563 zone to gradually short. Currently, chasing a short may not have a good risk-reward ratio unless Bitcoin drops below 65,000, which is uncertain. Always set stop-loss orders.

On the hourly chart, Bitcoin breaking above 66,906 and holding suggests a target of 67,887-68,836. If it cannot stay above 66,906, the move is invalid.
On the 4-hour chart, breaking below 66,199 indicates a target of 64,924-63,815.

On the daily chart, the bearish flag pattern has also been broken, and a solitary high point has formed above the white arrow, indicating resistance at around 69,453. For the daily chart to extend its decline, the next target is around 65,031. Continued decline would test the lower boundary of the box at 62,389 and the low at 59,888 on the daily level. This is not scare tactics but information reflected by the market. The key to a reversal on the daily chart is whether Bitcoin can re-enter the flag pattern. Pay attention to volume changes. Meeting adjourned. $BTC #Gate广场四月发帖挑战