Bitcoin did not break out into an upward trend yesterday, but instead moved in a volatile rhythm, a typical oscillation correction pattern. As mentioned before, a pullback is seen as a bullish opportunity, and it is clearly a downward false breakout pattern.

The daily level shows a convergence pattern of the moving average indicators moving upwards, still waiting for the moving average indicators to support the price increase. Now looking at the pre-market signals, today will still be dominated by volatility. I feel that this round of pullback has completed the bottom formation and we are about to welcome an upward trend. Unless there are unexpected circumstances, if it does not rise this week, it will certainly rise next week.

At the four-hour level, the price is consolidating at a low level, with candlesticks constantly testing the lower bound. 78600 is the support for this week, and if it cannot break below, then there is no need to say more; it will definitely break upward. Today, not much analysis is needed; it is simply bullish.

It is recommended to look for a bullish opportunity around the 78600-78400 range, with a target near 80100. The price levels are for reference only and do not constitute specific investment advice.

Follow the Feishu account, how to relieve worries, only Jiang Wei. A treasure analysis blogger full of emotional value, freely sharing trading teaching, bringing stability and clear guidance in the restless trading market, traversing three rounds of bull and bear markets with many years of trading experience, proficient in naked K, trend, Dow Theory, Gann, harmonics, Chen Theory, wave theory, and other technical analyses, gathering into personal unique insights.

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