Bitcoin has finally reached the pressure area near 75,000 at the top of the descending flag channel after a period of small upward steps. This is the important resistance level we mentioned several times before, and as expected, the surge encountered resistance, currently leaving a small upper wick. 【As shown in Figure 1】

From the 4-hour level, the surge here has pulled back with fairly obvious divergence, and the trend needs some correction and consolidation.

But is this the end point of this round of rebound? We should focus our observation on whether the daily close can stand above 75,000, this critical level. If it can stand above and consolidate, the price action will still move toward the 80,000 area. If it continues to run below 75,000, the risk of topping will increase significantly.

Then we need to pay attention to the support strength at 73,000. If 73,000 is also effectively broken through on the downside, the probability that this rebound move will end becomes quite high! 【As shown in Figure 2】