# Big Bitcoin Evening Analysis

Bitcoin is currently steadily oscillating within a bearish flag pattern. This slower pace of movement is actually more comfortable—small back-and-forth movements are much safer than wild rallies with sharp downward dives and piercing wicks.

This round of uptrend, calculated by Fibonacci 1:1 ratio, has a target around 71960. Whether it can further reach the 1.618 level at 73552 depends on performance after touching 71960:
• If it can sustain oscillation above 71960, there's a high probability of continuing toward 73552;
• If it only briefly pierces 71960 and quickly falls back, it suggests only completing the 1:1 target with difficulty in further upside.

To achieve a 1:1 uptrend, we must first break through the bearish flag while maintaining support at 70408—both are essential.

Once 70408 breaks, it will first retest 69203, and if that doesn't hold, it will probe the previous low of 68288. After the low refreshes, the 1:1 uptrend structure ceases to exist.

**Trading Suggestions:**
• Volume breakout above 70813, can chase longs, watch 71577-72000 above;

• Volume breakdown below 70417 with failed retrace back, can chase shorts.

• 1-hour: Holding 70813, rebound continues;

• 4-hour: Below 69767, watch 68828-68307 below.

$BTC #Gate13周年全球庆典