Bitcoin evening outlook

Bitcoin rallyed after touching a new low of 68188, however failed to break through the resistance level of 69529, and formed an evening star pattern near that level, with hourly levels showing pullback signals. After this rebound encountered resistance, it began a second retest of the previous low, with a very standard trend.

If it can stabilize and stop the decline near 68188, it is expected to form a double needle bottom pattern with potential for further upside; however, if it continuously fails to break through 69529, it will likely oscillate in the 68188-69529 range. Only an effective breakthrough of this resistance level will allow the rebound to continue, with targets above looking toward 70536 and higher levels. If the previous low breaks, the strong support below is at 66588.

Weekend market volatility has weak reference value, with institutions closed, news can easily trigger sharp swings. The true direction needs confirmation after US stock market opens on Monday. It is recommended to observe more and act less.

Operation suggestions:
• Follow the trend and go long on volume break above 69254, targets 70512-71337, if unable to hold steady at this level, upside momentum will be weak

• Short on volume break below 68525 with weak rebound recovery

• 4-hour level breaks below 68359, looking at 66993-65777 below
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