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Daily Market Analysis — BTC
There is no bull or bear market, only buy and sell points. Since the beginning of this week, we've been on a continuous winning streak, and the overall gains are quite good.
Regarding the current trend levels of BTC, the higher levels are in a corrective rebound process within a bearish trend, with clear pattern resistance above, making it difficult to change in the short term; the lower levels are in an overextended arrangement after recent upward moves, with some support below (see previous text for details).
The current trading focus is to understand that there is major pattern resistance above, so chasing the rally is not advisable; at the same time, the lower levels have short-term support, so during a pullback, consider low buy positions. Combining these two aspects means using the small-level pullback to speculate on the limited upward movement of the larger level. The reference points are as follows:
Short-term support 70410-69452 (1:2 quick entry and exit)
Second support 66058-64530 (long-term view for short-term trades)
Short-term resistance zone 72910-74304 (requires 15-minute bearish pattern confirmation)
Pattern resistance 76171-78240 (divergence point)
Note: In case of sudden movements caused by news, pattern resistance and previous major support levels remain valid (please refer to previous articles for specific points). #BTC