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【Bitcoin Ascending Flag Formation Complete, Rebound Target Eyeing 79660?】
Bitcoin has been experiencing frequent intraday pump-and-dump moves due to Middle East tensions. Therefore, we need to adjust to relatively higher timeframes to observe the market more clearly.
From the adjusted 2-day chart perspective, Bitcoin's triangle has broken above the upper boundary and completed a pullback confirmation. The upper support remains valid, and the structure for continued upward movement is still quite clear. Currently, price is near the important 73000 resistance zone experiencing a retracement move.
With multiple resistance levels ahead, any rebound will inevitably involve back-and-forth oscillations, so short-term operations present considerable difficulty.
At this stage of the market, we estimate the pullback will be relatively gentle. After all, the war news hasn't directly crashed Bitcoin, and short-term resilience has shown decent performance. Below, we should focus on the 68000-69000 support zone.
On the upside resistance side, Bitcoin has formed an **ascending flag structure**. The upper edge of the flag serves as the resistance level, approximately around 74900, and overlaps with the 73000-74000 resistance zone. Therefore, the pressure here is extremely significant.
Unless there's a volume breakout, it will be difficult for Bitcoin to directly surge past this level in the short term. Therefore, this can still serve as a **first profit-taking position** for reference.
If the market truly breaks through this resistance zone, the upside target can continue to reference the **CME gap fill at approximately 79660**.
One final reminder:
**Ascending flags often exist only to be broken.**
Rebounds are rebounds, but once the structure is broken in the follow-up, Bitcoin's overall downtrend has not ended. The true major-level low point may very well 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
Bitcoin has been experiencing frequent intraday pump-and-dump moves due to Middle East tensions. Therefore, we need to adjust to relatively higher timeframes to observe the market more clearly.
From the adjusted 2-day chart perspective, Bitcoin's triangle has broken above the upper boundary and completed a pullback confirmation. The upper support remains valid, and the structure for continued upward movement is still quite clear. Currently, price is near the important 73000 resistance zone experiencing a retracement move.
With multiple resistance levels ahead, any rebound will inevitably involve back-and-forth oscillations, so short-term operations present considerable difficulty.
At this stage of the market, we estimate the pullback will be relatively gentle. After all, the war news hasn't directly crashed Bitcoin, and short-term resilience has shown decent performance. Below, we should focus on the 68000-69000 support zone.
On the upside resistance side, Bitcoin has formed an **ascending flag structure**. The upper edge of the flag serves as the resistance level, approximately around 74900, and overlaps with the 73000-74000 resistance zone. Therefore, the pressure here is extremely significant.
Unless there's a volume breakout, it will be difficult for Bitcoin to directly surge past this level in the short term. Therefore, this can still serve as a **first profit-taking position** for reference.
If the market truly breaks through this resistance zone, the upside target can continue to reference the **CME gap fill at approximately 79660**.
One final reminder:
**Ascending flags often exist only to be broken.**
Rebounds are rebounds, but once the structure is broken in the follow-up, Bitcoin's overall downtrend has not ended. The true major-level low point may very well 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
