This morning, Bitcoin completed a high-quality technical rebound. After precisely testing the support level at $66,500 (which corresponds to the hourly MA120), the price quickly received buying interest and did not show any signs of weak consolidation. Instead, it directly recovered the $67,000 level with consecutive bullish candles. This "bottoming out and then rebounding" pattern fully demonstrates the enthusiasm of buyers below and the stability of market chips.
As of now, the price has successfully stabilized above $67,500 and is showing signs of sideways consolidation at high levels. This indicates that the early morning rally was not driven by a single candlestick overextending, but rather sustained buying activity at high levels, with turnover and support, preparing for the next upward move. From a technical perspective, the price has completely moved away from the early morning dip lows and firmly remains above the 4-hour EMA21, which is a key confirmation signal that the short-term trend has shifted from consolidation to bullish.
With the bulls firmly in control of the market, upward space has opened. Short-term resistance levels can be focused on the $68,300–$68,500 range. Once effectively broken, this rebound could accelerate toward the $69,300 and even the $70,000 round numbers. Until the bullish trend is broken, trading should mainly focus on buying on dips and avoid guessing tops against the trend. #Gate广场发帖领五万美金红包 $BTC
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
This morning, Bitcoin completed a high-quality technical rebound. After precisely testing the support level at $66,500 (which corresponds to the hourly MA120), the price quickly received buying interest and did not show any signs of weak consolidation. Instead, it directly recovered the $67,000 level with consecutive bullish candles. This "bottoming out and then rebounding" pattern fully demonstrates the enthusiasm of buyers below and the stability of market chips.
As of now, the price has successfully stabilized above $67,500 and is showing signs of sideways consolidation at high levels. This indicates that the early morning rally was not driven by a single candlestick overextending, but rather sustained buying activity at high levels, with turnover and support, preparing for the next upward move. From a technical perspective, the price has completely moved away from the early morning dip lows and firmly remains above the 4-hour EMA21, which is a key confirmation signal that the short-term trend has shifted from consolidation to bullish.
With the bulls firmly in control of the market, upward space has opened. Short-term resistance levels can be focused on the $68,300–$68,500 range. Once effectively broken, this rebound could accelerate toward the $69,300 and even the $70,000 round numbers. Until the bullish trend is broken, trading should mainly focus on buying on dips and avoid guessing tops against the trend. #Gate广场发帖领五万美金红包 $BTC