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Bitcoin has finally experienced a significant rally, with the price reaching the 76,000 level directly. The bulls remain very strong. Can this bullish trend maintain its upward momentum? Let me analyze the pre-market situation below.
Looking at the 4-hour level, the price has broken through three consecutive bullish candles and surpassed the upper band, showing that the uptrend has exceeded expectations. The overall pre-market bias is upward. Today's key focus is on yesterday's tested support point. 74,500 is now the current support level. If the price breaks below and stabilizes below, it indicates a potential pullback. Conversely, if it tests the support without breaking, it suggests the bulls will continue higher.
The daily chart shows 8 consecutive bullish candles, with the 9th candle continuing to move higher. Intraday, we need to watch whether it can decline back to the band. If not, it will continue rising. The MACD energy histogram in the secondary indicator is strengthening. Therefore, intraday pullbacks to support conversion points are multiple. I suggest watching for bullish reversals at the 74,500-74,000 range, with a target eyes on 78,000, with weekly resistance at 82,500. Whether the price can reach these levels later remains to be seen.
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