BTC Market Analysis

The week is coming to an end, followed by the weekend market. After experiencing a large bullish candle rebound this week, the uptrend momentum did not continue. Currently, the daily level appears to be rebounding upward, but the rebound strength remains limited. What needs to be watched is whether the 4-hour level can solidly hold 71600. In the short term, it will oscillate around 69400~71600. If 69400 is not broken, it will form a 4-hour inverse head and shoulders pattern, and then move up to around 74600. However, if 71600 continues to be unable to break and drops below 69000, it will continue to move downward.

Therefore, focus on whether it breaks upward or breaks downward in the short term. From the 1-hour level perspective, it has hit 71600 four times without breaking upward, and the chart indicators are forming a bearish divergence pattern, so attention should still be paid to the risk at the 1-hour level.

Support: 69400-67700
Resistance: 71600-72700