The weekend phase confirms Bitcoin's bottom formation. The momentum from the previous decline has completely faded. This pullback is not a genuine bearish trend but a false drop caused by emotional disturbances in Europe and the United States. Monday's rally is a typical baiting tactic. The current market is in a deep wash phase, aimed at thoroughly cleaning out floating positions. Next week, market fluctuations will be more intense. To align with the market rhythm, do not be swayed by market emotions; following the real trading rhythm is essential for achieving stable profits.
From a weekly perspective, the previous two consecutive bullish candles have been reversed by bearish forces, resulting in a series of bearish closes under pressure. Currently, the coin price is operating within the support range of previous solid bottoms, testing the potential for further bearish strength. In terms of the MACD indicator, earlier bearish bars dominated the market, but now the bearish bars are continuously shrinking and gradually turning bullish. The fast and slow lines are converging, and a golden cross pattern is about to form. Bullish strength is gradually recovering and increasing in volume. On the daily level, after three consecutive bearish dips testing the lower Bollinger Band, a rebound has occurred. The downward momentum has clearly encountered resistance, and a small-level doji candlestick has appeared at the bottom. This pattern indicates that the market's rebound potential is about to explode, and the signal for a market reversal is becoming increasingly clear. Additionally, the KDJ indicator is forming a golden cross at the bottom, indicating a significant warming trend for the bulls.
Bitcoin previously confirmed its bottom around 65500. This level is an important strong support from earlier. The coin price briefly broke below but did not continue the weakness. The bearish strength has been exhausted and cannot break down further. From the market structure perspective, it has officially succeeded in bottom formation, and the subsequent trend will gradually turn bullish. Next week's trading strategy is clear: with 65500 as the core support, build long positions in batches and firmly hold positions to grasp the bullish trend. Specific levels: Bitcoin long positions in the range of 66500-65500, targeting 69000; if broken, look above 72000; Ethereum will operate long positions simultaneously, targeting above 2200.
