【$BTC Signal】Long | Strong rebound after decline, testing key resistance

After a quick drop to 59800, $BTC formed a long lower shadow on the 4H chart and rebounded strongly. Currently, the price is testing resistance near the previous high of 68500. After the funding rate turned negative, bearish sentiment was released, providing a healthy reset for the subsequent rally.

🎯 Direction: Long

🎯 Entry: 67200 - 67800

🛑 Stop Loss: 65800 ( Rigid stop loss, break below the 4H rebound structure )

🚀 Target 1: 69500

🚀 Target 2: 71500

Deep technical logic: The price rebounded in a V-shape from the low of 59800, recovering most of the decline, indicating strong buying absorption during the drop. The 4H candlestick shows increased volume during the decline, and the rebound is accompanied by volume, indicating effective turnover. Currently, the price is consolidating above the previous dense trading zone. The shift to negative funding rates has cleared leveraged longs, reducing further selling pressure. As long as the price can stay above 67000 and break through the previous high of 68500, it will confirm that the decline is merely a shakeout, and the upward trend is highly likely to continue.

Trade here 👇 $BTC

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‍#Gate广场创作者新春激励
#Is the current market bottoming out or just waiting and watching?