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BTC Evening Technical Analysis and Suggestions
BTC hourly level has broken through the triangle, with the upper resistance level at 71490 right in sight. The white arrow indicates that the 71490 resistance level has been tested 3 times already, but all attempts have failed so far. However, as long as BTC maintains operation above the triangle's upper boundary, breaking through 71490 is only a matter of time. Only by breaking through 71490 can we look toward higher levels and move out of this 71490-68825 consolidation zone to higher positions for further consolidation. Look at the two red line segments pointed out by the white arrow below. Following a 1:1 ratio move, the target position for this rebound wave is around 73077. However, there's a prerequisite: 71490 must be broken. Otherwise, the 1:1 upward move won't materialize. For those with bottom long positions who can reach the 1:1 target level, remember to reduce positions before speculating on higher levels. Once BTC falls back into the triangle again, it will retest the support at 70057 below. If 70057 holds, it will consolidate between 70057-71490 and have another chance to break through 71490. If 70057 breaks down, you'll see 68825 again. No matter how BTC retraces, if it doesn't break 68825, this 71490-68825 bull trend remains intact. Breaking below this consolidation zone means returning to where it started, and this bull trend will end, with 67307 waiting for all of you.
Volume-backed BTC break of 71188 on the right side - go long. 70506 volume-backed breakdown with failed rejection on the right side - go short. Bring good stop losses.
BTC hourly level breaks and stands firm at 71188, looking up at 71869-72551. If unable to break above 71188, it's meaningless.
4H level breaks below 70405, looking down at 69224-62128.
BTC 4H level currently stands firm at the Fibonacci 38.2 level. The resistance level to face ahead is the Fibonacci 50 level corresponding to 71691. Only by breaking the 50 level can we look at 61.8; standing firm at 61.8 allows us to continue looking up at the 78.6 level. Before breaking through 78.6, all rallies are merely rebounds. Only after standing firm at 4H 78.6 can we see a 4H reversal. Pay attention to volume changes.
The above is merely personal advice. Specifically, please refer to Sister Lin's slate layout. $BTC