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BTC Market Analysis

On the daily chart, the overall price of Bitcoin is currently in a state of rebound after reaching a high. The bullish support on the daily chart is at 68400. If this level is breached, the daily trend will change. Therefore, the focus in the next two days before the weekend is on the support near 68400 and the resistance at the high of 72000. After three consecutive increases in bearish volume on the daily chart, a bullish reversal is certain to bring strong upward momentum. On the four-hour chart, the price is running within a downtrend channel, with support near 67800, which is also the key support/resistance line around the 20th of last month. The resistance above near 72000 remains strong. Additionally, the J-line indicator on the chart is turning upwards at the bottom, indicating a certain upward potential. Therefore, it is suggested to focus on long positions on the four-hour chart during pullbacks. On the one-hour chart, the Bollinger band is pressing downward, and the fast and slow line indicators show a bullish divergence. There may be a downward trend in the future. Overall, it is recommended to focus on long positions during pullbacks. Specific implementation points will be provided in real time during the trend layout in the practical combat class tomorrow.

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