$BTC Evening Viewpoint:

Bitcoin's triangle pattern has been broken downward. If you're not paying attention, it's understandable that you didn't react in time. Even after breaking the 70,698 neckline, you're still not shorting. What are you waiting for? Are you waiting for your mentor to give you instructions? Maybe your mentor is even confused. Making money requires someone to push you and tell you to short! Now that we've even broken below 70,000, you're only thinking about chasing the move? All I can say is good luck to you! Bitcoin has been trading below the 70,057 resistance, and there's a high probability it will test the support at 68,825. I posted earlier that if it breaks below 68,825, the hourly head and shoulders pattern completes, and the previous low at 67,307 will be tested. If it doesn't break below 68,825 and consolidates above it, the decline won't expand. If it breaks below 68,825, you'll have to watch the 67,307 level.

For Bitcoin to rebound, it must regain above 70,057 to continue the upward move. If it can't recover above 70,698 and 71,490, there's no point in expecting further upside.

Many traders see the market falling and want to buy the dip, right? Here are two buy zones for you! The first zone is between 68,866 and 67,323. Enter multiple buy orders: buy one lot at 68,866 and another at 67,323. Your average price will be around 68,100. This is a left-side order, so try to use half your position size. Set a stop loss at around 66,571, roughly 1,500 points away. If you can't accept that, don't trade. Look for the next target around 70,130 to 71,126. The second zone is a breakout trade: if the price breaks above 70,130, chase long positions. Take profit and stop loss according to the chart. If Bitcoin breaks above 70,130 and moves toward 71,126-72,000, that’s a bullish sign. If it can't go above 70,130, then there's no point.

On the 4-hour chart, a break below 69,377 suggests a further decline toward 68,320-67,263.
According to Fibonacci analysis on the hourly chart, the 1:1 retracement target for this correction is 69,080. Whether it can reach the 1.618 extension depends on whether 69,080 can hold. If it can't, a quick reversal will occur.
A final tip for traders: those holding short positions at the top, consider reducing your position around 69,080 before aiming for lower levels. Don't set your take profit too rigidly; leave some room for movement.
$BTC