【Bitcoin Ascending Flag Formation Completed, Rebound Target Points to 79660?】

Big coin under the influence of Middle East situation, small cycle bull traps and bear traps are relatively frequent, therefore we need to raise the cycle perspective somewhat to observe the market.

From the perspective of the adjusted 2-day line, big coin's triangle has broken through the upper edge and completed a pullback confirmation, with the upper support being effective, the structure for continued upward movement remains very clear. Currently the price is near the important resistance zone of 73000 and experiencing pullback pressure.

Upper resistance is heavy, and any rebound will inevitably involve back-and-forth oscillations, therefore short-term operation difficulty is considerable.

At this stage of the market, it's estimated that pullbacks will be relatively gentle. After all, the war news didn't directly smash big coin down, and short-term resilience performance is still decent. Below, first focus on the support zone of 68000—69000.

Regarding upper resistance, big coin has currently formed an ascending flag structure. The upper edge position of the flag is the resistance level, approximately around 74900, and simultaneously overlaps with the pressure zone of 73000—74000, therefore the resistance here is extremely heavy.

Unless there's a breakout on heavy volume, it will be difficult to directly break through in the short term, therefore this position can still be referenced as a first position for profit-taking.

If the market can truly break through this resistance zone, then the upper target can continue to reference the CME gap fill around 79660.

One final reminder:
Ascending flags often exist for the purpose of being broken down.

Rebound is rebound, once the structure breaks down subsequently, big coin's overall downtrend has still not ended, the true major-level low point very likely hasn't appeared yet, everyone must keep this in mind.

#比特币重新站上7万美元大关 $BTC #BTC $ETH