Bitcoin is temporarily supported at 70,500 and consolidating at this level. The specific movement will determine whether it follows a declining trend to find support levels or forms a triangle breakout pattern. Tomorrow should provide corresponding results. If it breaks above 72,550 and subsequently dips without breaking that level, only reaching the gap position, it will be a triangle breakout pattern. If it repeatedly breaks to new lows with a downward move of around 1,000U in a channel, seeking support levels, then from a weekly K-line perspective, the extreme support level to reference is
#比特币 The market momentum is too weak. There's a significant increase in risks for the 70500 long positions. Patiently wait for an attack above 72550. The squeeze pattern or failure to break above 62550, with a pullback to 65900, presents a better opportunity for the week. For longer timeframes, a broader perspective is more stable.
Currently, Bitcoin will complete its directional choice between 70500-72500. If it holds support around 70500, breaking through and establishing a firm position at 72500 will continue the short-squeeze momentum, attacking the 60-day moving average at the daily level, which is currently around 77000. If it fails to stabilize at 72500 and this level becomes a bottom, the market will be weak and enter a deep pullback, gradually testing key support levels at 69000, or even potentially dropping all the way to around 65900 in one move.