Evening Bitcoin (BTC) Thoughts

The hourly timeframe for Bitcoin is about to face a triangle consolidation breakout, with the key level to watch being the previous high around 75,500. As long as the price stays above 74,929, the rebound trend will continue. Before breaking through 76,237, this phase should be viewed as a rebound rather than a reversal; only after a confirmed breakthrough of 76,237 will the real upward space open up, further challenging 77,573 and the previous high of 78,283.

Don't assume a reversal at the first sign of a rise, or panic and short-sell at the first drop—approach volatility rationally. The support at 73,537 has been tested four times and confirmed as effective. Previously, the rally to 78,283 was based on this support. If the price stabilizes again at this level, based on structural patterns, there is still a chance for a rebound to test 78,283 again; if it breaks the previous high, the upward trend will continue. If resistance near 78,283 causes a stall, it is likely to retest the 73,537 support again. The prerequisite is a break above 76,237, which is necessary to attempt reaching the previous high.

Trading Suggestions:
• Break above 75,263 with volume and hold steady, follow up long positions
• Break below 74,589 with volume and fail to recover, follow up short positions

• Hourly level: Hold above 75,263, with targets at 76,260-77,412 above; if unable to break above, the rebound is invalid
• 4-hour level: Break below 74,483, with targets at 73,677-72,019 below

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