Bitcoin Evening Analysis! Can Bitcoin continue to chase higher?

From the 1-hour chart, the 69200 level is the current acceleration line for the rally. As long as the price stays firmly above this line, the upward potential remains. Based on the AB=CD pattern measurement, the first target for this rally is around 72116, which is the most obvious high point at this stage. Only if it breaks through and stabilizes above 72116 can it continue to look toward 73372 and the previous high of 74046.
Regarding pullbacks, as long as it does not fall below the 70069-69213 bullish support zone, it is just a normal correction and will not experience a deep decline. If it breaks below this zone, it will test the support at 68232. If that support is also lost, the downward space will expand. Currently, the upward momentum is very strong, so avoid going short against the trend, as small profits from shorting can lead to significant losses in the overall trend, which is very unwise.
Although it appears to be a bearish signal now, the bearish candlestick has not broken the key neckline at 69213. Without breaking this level, a valid low point has not formed; it’s just the main force shaking out traders ("fake out"), providing a last chance to buy in. Therefore, I choose to go long. When approaching resistance levels, I will first reduce most of my position and keep a small position to aim for higher levels. The bullish trend is only suitable for dips to buy; only if the key support is broken should I consider shorting on the right side. In other situations, avoid shorting lightly.
The RSI indicator has entered the overbought zone, indicating a need for a correction, but when the correction will happen is uncertain. The presence of a correction need not mean an immediate fall.

$BTC Operation tips: A half position can be added on a pullback to 70275; if volume increases and it falls below 70076, and cannot recover on a rebound, then consider shorting on the right side, remember to set a stop loss.
On the 1-hour chart, a break and stabilization above 71665 indicates an upward target of 72597-73375; on the 4-hour chart, a break below 70183 indicates a downward target of 69344-68352. On the 4-hour chart, the EMA20 and 50-day moving averages have been broken, and it is attempting to break through the 200-day moving average. Only after three consecutive 4-hour candles close above the moving averages can it be considered truly stabilized. Once stabilized, the 4-hour arc bottom target is 74030; if it cannot hold and only pulls back without falling below the EMA20 and 50-day moving averages, this rally is not over. Pay close attention to volume changes during operations.