BTC Market Analysis
This week is coming to an end, followed by the weekend market. After experiencing a strong bullish candle rebound this week, it has not continued the bullish trend. Currently, at this position on the daily chart, it seems to be rebounding upwards, but the strength of the rebound is still limited. It is important to note whether it can stabilize at 71600 on the 4-hour chart. In the short term, it will fluctuate around 69400~71600. If it does not break 69400, it will form a head and shoulders bottom on the 4-hour chart and then reach near 74600. However, if it continues not to break 71600 and falls below 69000, it will still move downwards.
So in the short term, pay attention to whether it will break upwards or fall downwards. From the 1-hour perspective, it has reached 71600 four times without breaking up, and the indicator is showing a state of divergence at the peak, so it is still necessary to pay attention to the risk at the 1-hour level.
Support: 69400-67700
Resistance: 71600-72700
