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【Bitcoin ascending flag pattern formed, rebound target pointing directly to 79660?】
Big cake is experiencing frequent intraday bull traps and bear traps under the influence of Middle East tensions, so we need to raise the cycle relatively higher to observe the market.
From the perspective of the adjusted 2-day chart, big cake's triangle has broken through the upper edge and completed a pullback confirmation. The upper support is effective, and the structure for continued upward movement remains quite clear. Currently, the price is in a pullback near the important resistance zone of 73000.
With heavy resistance above, any rebound will inevitably involve back-and-forth oscillations, making short-term operations not without difficulty.
At this stage of the market, it's estimated that pullbacks will be relatively gentle. After all, war news hasn't directly smashed big cake down, and short-term resilience performance has been quite decent. Below, focus first on the support around 68000—69000.
Regarding upper resistance, big cake has currently formed an ascending flag structure. The upper edge of the flag is the resistance level, approximately around 74900, while simultaneously overlapping with the 73000—74000 resistance zone, making the resistance here extremely strong.
Unless there's a breakout on volume, it won't be easy to break through directly in the short term, so this level can still serve as a reference for the first profit-taking position.
If the market can truly break through this resistance zone, then the upper target can continue to reference the CME gap at around 79660.
One final reminder:
Ascending flag patterns often exist precisely to be broken.
Rebounds are rebounds, but once the structure breaks down subsequently, big cake's overall downtrend still hasn't ended, and the true major-level low point likely hasn't 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 intraday bull traps and bear traps under the influence of Middle East tensions, so we need to raise the cycle relatively higher to observe the market.
From the perspective of the adjusted 2-day chart, big cake's triangle has broken through the upper edge and completed a pullback confirmation. The upper support is effective, and the structure for continued upward movement remains quite clear. Currently, the price is in a pullback near the important resistance zone of 73000.
With heavy resistance above, any rebound will inevitably involve back-and-forth oscillations, making short-term operations not without difficulty.
At this stage of the market, it's estimated that pullbacks will be relatively gentle. After all, war news hasn't directly smashed big cake down, and short-term resilience performance has been quite decent. Below, focus first on the support around 68000—69000.
Regarding upper resistance, big cake has currently formed an ascending flag structure. The upper edge of the flag is the resistance level, approximately around 74900, while simultaneously overlapping with the 73000—74000 resistance zone, making the resistance here extremely strong.
Unless there's a breakout on volume, it won't be easy to break through directly in the short term, so this level can still serve as a reference for the first profit-taking position.
If the market can truly break through this resistance zone, then the upper target can continue to reference the CME gap at around 79660.
One final reminder:
Ascending flag patterns often exist precisely to be broken.
Rebounds are rebounds, but once the structure breaks down subsequently, big cake's overall downtrend still hasn't ended, and the true major-level low point likely hasn't appeared yet. Everyone must keep this in mind.
#比特币重新站上7万美元大关 $BTC #BTC $ETH
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