$BTC The current price is running around 70,600. On the 4-hour level, the ascending flag breakout pattern is quite clear. The price has steadily positioned above the EMA20 moving average. The short-term moving averages EMA5 and EMA10 have formed a golden cross and are diverging upward, indicating that a short-term bullish alignment has already taken shape. The 70,000 level has transformed from a previous resistance level into a support level, and the upside space has been further opened.
From a volume perspective, when breaking through 71,000, the trading volume clearly expanded. The OBV indicator simultaneously created a new daily high, indicating strong fund acceptance willingness and healthy price-volume coordination. The hourly MACD has formed a second golden cross above the zero line, with red momentum bars extending moderately, showing that the rebound remains in healthy operation and bullish momentum has not yet shown signs of exhaustion.
Operationally, the 70,000 zone below should be a key support to watch, as this area is the confluence zone of the previous breakout platform and top-bottom reversal. As long as a pullback doesn't break this zone, the shock-driven uptrend structure is expected to continue. The upper targets first focus on the 71,500-71,800 zone. If successfully broken through, there is an opportunity to further test the 72,000 psychological level. Before the key support is broken, maintaining a long bias and continuing to see bullish momentum remains the more reasonable choice.#Gate13周年全球庆典
$BTC The current price is running around 70,600. On the 4-hour level, the ascending flag breakout pattern is quite clear. The price has steadily positioned above the EMA20 moving average. The short-term moving averages EMA5 and EMA10 have formed a golden cross and are diverging upward, indicating that a short-term bullish alignment has already taken shape. The 70,000 level has transformed from a previous resistance level into a support level, and the upside space has been further opened.
From a volume perspective, when breaking through 71,000, the trading volume clearly expanded. The OBV indicator simultaneously created a new daily high, indicating strong fund acceptance willingness and healthy price-volume coordination. The hourly MACD has formed a second golden cross above the zero line, with red momentum bars extending moderately, showing that the rebound remains in healthy operation and bullish momentum has not yet shown signs of exhaustion.
Operationally, the 70,000 zone below should be a key support to watch, as this area is the confluence zone of the previous breakout platform and top-bottom reversal. As long as a pullback doesn't break this zone, the shock-driven uptrend structure is expected to continue. The upper targets first focus on the 71,500-71,800 zone. If successfully broken through, there is an opportunity to further test the 72,000 psychological level. Before the key support is broken, maintaining a long bias and continuing to see bullish momentum remains the more reasonable choice.#Gate13周年全球庆典