Early morning Bitcoin breaks out of a textbook "V-shaped reversal" pattern. During the midnight hours, the price was still hovering around 67,700, and the market was pessimistic. Suddenly, the bulls surged, and a large bullish candle broke through the 69,000, 70,000, and 71,000 levels, with the highest reaching around 72,743, an increase of over 5%, hitting a recent high. The entire upward move had almost no significant retracement, with the low points rising from 67,700 all the way above 72,000. Currently, it is consolidating near a critical resistance zone. Ethereum rebounded after finding support around 2060 yesterday, and the rally has now regained to around 2250, a nearly 200-point increase. The short position set up overnight was unfortunately stopped out, with Bitcoin breaking below yesterday’s high of around 69,300, resulting in a loss of about 1,000 points. The sister position was also stopped out with a 40-point loss.

The four-hour chart shows a full-bodied bullish candle that completely engulfs the previous three days’ bearish candles, forming a strong "bullish engulfing" reversal pattern. The price has effectively broken through the previous high of 70,332 and is holding above 72,000, marking the highest close since the rebound from the low of 64,059. From a trend perspective, the decline initiated by breaking below 67,700 yesterday has been fully reversed, and a new upward channel has opened. Currently, the price is consolidating in the 72,000-72,700 range, which is a normal correction after a breakout. Support has shifted from resistance in the 71,500-71,800 zone; if this support holds during a pullback, the upward trend will continue. The next target zone is 73,000-73,500, which is also a key resistance area on the daily chart.

Moving forward, Bitcoin’s key focus is on whether it can hold above 72,000. Currently, resistance around 73,500 is being watched. For the sister position, the current high point resistance is around 2,280, and support is at 2,200 to see if it can stabilize during a second test. #加密市场行情震荡 $BTC $ETH