Bitcoin Evening Analysis!

The hourly upward move for Bitcoin has completed its standard wave, encountering strong resistance near 70123 and pulling back. This correction is normal—just like when you're full and need to digest, the market rises to a certain point and then pulls back to gather strength before moving further. Currently, I lean bearish; the higher the price, the clearer my shorting strategy becomes.

There are two key support levels below: the bullish trendline and the 50% Fibonacci retracement level at 66274, which resonate together. They must either hold together or break together. If 66274 cannot hold, the price will trend downward to 65360, and if it can't hold there, it may drop to 64059. As long as 66274 remains intact, the correction is controllable; once it is effectively broken, the market will likely fall as much as it has risen.

To stop the decline and rebound, a volume breakout above 67188 is necessary. Only then can the downtrend be halted; even if there isn't a big rally, the market will enter a consolidation phase and stop falling. After breaking through 67188, the next target zone is between 68319 and 70147. If it cannot surpass 67188, and breaks below 66274, the downward trend will be difficult to reverse.

$BTC Trading strategy: A volume breakout above 67087 signals a long entry on the right side; a volume breakdown below 66327 with a failed rebound can be a short entry, remember to strictly set stop-losses.

On the daily chart, this is even more critical. Bitcoin almost broke through the upper boundary of the box; currently, it is trading below the midline of the box at 67335. Tomorrow before 8 AM, the daily close will confirm whether the breakdown is valid. If broken, the strong support on the daily chart shifts down to the lower boundary of the box at 62477. If this level cannot hold, it will test the previous low at 59888.

Overall, in the short term, key levels determine the trend: 67188 and 66274 are the dividing lines between bulls and bears. Holding above provides room for a rebound; breaking below opens the downside space.