Last night’s market trend saw Bitcoin opening higher along with the US stock market, with market sentiment fully recovering. After stabilizing above the 68100 level, the bulls continued to exert strength, pushing the price up strongly to around 69500 before stopping. Our long positions around 67800 from the evening were perfectly captured during this rally, successfully taking profit at the 69000 target. Currently, the price is slightly retracing but still remains above the 69000 level, maintaining a strong overall trend.
From a structural perspective, last night’s rally was significant: the price broke through previous resistance at 68100 with increased volume, reaching a high near 69500. This is the first effective test of the 69500-69800 resistance zone since the decline began in early March. On the daily chart, Bitcoin has closed three consecutive bullish candles, forming a clear “Three White Soldiers” bullish pattern, and the price has successfully moved above the daily MA30, indicating a shift from consolidation to an uptrend in the medium term. On the hourly chart, the moving averages are arranged in a standard bullish divergence, with the MACD fast and slow lines crossing above zero again, and the red histogram bars continuing to expand, showing ample upward momentum. Support has moved up to the 68800-69000 zone; as long as this level holds, the short-term bullish pattern will continue.
Given the daily stabilization and the bullish structure on the hourly chart, it is advisable to continue following the trend with low buy positions. Wait for a pullback to around 68800-69000 to enter multiple long positions, with a stop below 68300. The initial target is the previous high near 69500; a breakout could further push toward the 69800-70000 key levels. The short-term trend is clear, and retracements are good opportunities to buy, so avoid guessing the top on the left side. #Gate2月透明度报告 $BTC
From a structural perspective, last night’s rally was significant: the price broke through previous resistance at 68100 with increased volume, reaching a high near 69500. This is the first effective test of the 69500-69800 resistance zone since the decline began in early March. On the daily chart, Bitcoin has closed three consecutive bullish candles, forming a clear “Three White Soldiers” bullish pattern, and the price has successfully moved above the daily MA30, indicating a shift from consolidation to an uptrend in the medium term. On the hourly chart, the moving averages are arranged in a standard bullish divergence, with the MACD fast and slow lines crossing above zero again, and the red histogram bars continuing to expand, showing ample upward momentum. Support has moved up to the 68800-69000 zone; as long as this level holds, the short-term bullish pattern will continue.
Given the daily stabilization and the bullish structure on the hourly chart, it is advisable to continue following the trend with low buy positions. Wait for a pullback to around 68800-69000 to enter multiple long positions, with a stop below 68300. The initial target is the previous high near 69500; a breakout could further push toward the 69800-70000 key levels. The short-term trend is clear, and retracements are good opportunities to buy, so avoid guessing the top on the left side. #Gate2月透明度报告 $BTC
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