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Has Bitcoin reached its peak?
Yesterday, Bitcoin tested the 76,000 level and then faced resistance and pulled back. Is this the top, or is it a pullback, consolidation, and preparation for a breakout? Price movements can't keep rising forever, nor can they keep falling. The overall market still maintains a sideways upward trend.
On the four-hour chart yesterday, the price reached a peak and formed three incense-burning shapes above. Usually, when this happens, a pullback is expected. So, yesterday we only saw the 76,000 level. However, the volume indicator still shows an increasing trend, indicating overall upward momentum. After a pullback and consolidation, the price is likely to reach new highs.
For today, it is recommended to focus on the 73,800-73,500 support zone for bullish signals. The short-term target is to break through the 76,000 level and then aim for 78,000.