Bitcoin Evening Analysis

Bitcoin created a new low in the evening, but the key support at 69222 was not broken. As long as this level holds, the hourly bullish structure remains intact.

Before breaking below 69222, I lean toward a bullish bias; I'll switch to bearish only after an effective breakdown.

Price movements with both ups and downs are normal. 69222 is a strong support that has held on multiple retests—it's difficult to break through in a single drop.

If it does fall, typically there would be a rebound first, and a secondary retest of the previous low would need to fail to break this level, unless there's a sudden major negative catalyst.

A hammer candlestick formed near 69222 below, indicating buying support at this level.

As long as a secondary retest doesn't break below the low of this candle, this is a short-term local bottom.

For a rebound to occur, we must firmly reestablish support at 70451. Above that, first watch 71973; after breaking through, then watch the resistance zone at 72878–73361.

The hourly RSI has entered oversold territory, and the technical setup requires a rebound.

For a continued major decline, there are only two possible paths:
1. Rebound faces resistance and falls, breaking the previous low
2. Directly smashes through the 69222 support

Trading Recommendations:
• Volume breakout above 70573 and holds steady: Chase longs on the right side, watch for rebound, target 71973–72878
• Volume breaks below 69425 with failed push-back: Chase shorts on the right side (more aggressive)

4-Hour Level:
• Break below 69443, watch 68334–67400 below $BTC #Gate13周年全球庆典