Bitcoin Evening Analysis

Bitcoin is likely to follow an AB=CD downtrend pattern tonight. The first target for this pullback is 66515. Once reaching this level, focus on observing stop-loss signals: a wick down but the body closes above 66515, repeated probing at this level without breaking through, or a quick recovery after breaking below and holding steady. When these signals appear, you can take a light long position to trade the rebound. If it directly breaks through effectively and fails to recover, decisively avoid going long.

Currently, bullish momentum is weak. The 69017 neckline has failed to break multiple times. The resistance level has been tested 3+ times without holding steady. Subsequent breakthroughs relying solely on the market itself will be extremely difficult unless there is significant positive news stimulus. Additionally, after the third failed attempt at 69017, bearish engulfing patterns and isolated highs have formed consecutively, with clear bearish signals and extremely strong pressure overhead.

If the current price cannot hold above 68161, the support at the previous low of 67307 will likely not hold. Once lost, it will likely head directly to the 66515 target level. For a reversal and stop-loss on the hourly level, it must break through and hold 69017 to have a chance to reach 69561-70270. Otherwise, rebound space is basically non-existent.

Trading Recommendations:
• Volume breakout above 68454 and holds steady: can chase longs targeting 69561, stop at 68161. If it fails to stand above 68454, there's no value in going long.

• Volume breaks below 67770, fails to recover on the retest: can chase shorts toward 66515-66055.

• 4-hour level breaks below 68131, watch lower levels at 67332-66055.

$BTC