4.6 Monday, bottoming out and rebounding, retesting to continue the bullish trend

It's another new week. Bitcoin has been consolidating at low levels recently, and this morning it finally surged, with the current high reaching around 69,500. In our recent outlook, we have consistently indicated a bullish stance, repeatedly warning that the market is in a wide-range tug-of-war, and that traders should not chase shorts at low levels or expect a one-sided move. The market's trend has unfolded as I predicted, ultimately reversing. Currently, a cyclical reversal is underway, and retesting to the downside within the day remains a buy signal.

On the daily chart, the trend is currently characterized by consecutive bullish candles, indicating a continuation of the short-term bullish momentum. The cyclical bottoming and rebound pattern is still in play, with resistance levels around 72,000-74,000. The 4-hour and hourly charts show strong upward surges with large bullish candles, and short-term overbought signals are emerging. The recent rally this morning should not be chased; after a retest and correction, continue to buy on dips.

On Monday morning, it is recommended to buy around 68,500-68,000 for Bitcoin, with targets at 70,000-72,000.