BTC Market Analysis

The week is coming to an end, followed by weekend trading. After experiencing a strong bullish rebound this week, the uptrend momentum has not continued. Currently, at the daily level, the price appears to be rebounding upward, but the strength of this rebound remains limited. What needs to be monitored is whether the 4-hour level can hold steady above 71600. In the short term, price action will oscillate between 69400~71600. If 69400 is not broken, it will form a 4-hour head and shoulders bottom, then move upward to touch around 74600. However, if 71600 continues to hold and the price breaks below 69000, it will continue to move downward.

Therefore, in the short term, pay attention to whether it breaks above or falls below. From the 1-hour level perspective, price has reached 71600 four times without breaking above, and the volume indicator is forming a bearish divergence pattern. So it's still necessary to monitor the risk at the 1-hour level.

Support: 69400-67700
Resistance: 71600-72700