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Evening Bitcoin Roadmap Analysis!
Many friends are asking if Bitcoin has completely reversed. I want to clarify: it hasn't. Currently, it's just a short-term rebound on the hourly level. Don't FOMO blindly entering the market just because of a big rise.
A bear market is never a straight decline; violent rebounds often occur along the way. This is a typical bear market rebound now. I mentioned in my afternoon video that there is a breakout opportunity on the hourly level, and those who followed along have already gained.
This wave of rally is very regular: first a quick surge, then forming a bullish flag pattern. A downward-opening flag is a clear bullish signal; at the same time, a Morning Star candlestick pattern appeared near the 67,320 support level. The combination of these two signals provides a low-entry opportunity for long positions. I advised entering early, taking profits around $4,836, and exiting. By the time others react and chase higher, we've already secured our gains.
After breaking out of the flag pattern, it successfully surpassed the 68,919 resistance level and even hit a new high of 70,105, showing a very strong trend. The current key level is 70,939; as long as it doesn't fall below, it can stay above 70,000 steadily. If it breaks below, it will retest 70,105, and only a break below that would lead to further decline.
Currently, Bitcoin is approaching the daily resistance at 71,782. Only if it can hold steady and break through this level will there be a chance to push towards 72,638-73,568. If it can't break through, it will enter consolidation, waiting for a direction to be chosen.
$BTC Trading reference: A volume breakout above 72,142, aggressive traders can lightly chase longs, while conservative traders wait for a retest before entering; if it drops below 71,003 with volume and can't recover, consider shorting; on the 4-hour chart, a break below 71,010 suggests looking at 70,081-69,267 below.