$BTC One night to change your fate—this time, it really isn't a normal rebound
The day before, it was still churning around 64,000, but in the blink of an eye it broke through the 66,000, 68,950, and 70,000 levels, with the intraday high smashing straight up to 71,687
This surge isn't a typical technical bounce. The U.S. Treasury expanded the scale of its long-term Treasury repo operations, pushing U.S. Treasury yields lower; expectations for improved liquidity quickly heated up in the market
After the news lit the fuse, BTC broke through the dense resistance zone around 66,000. A large number of short positions were liquidated or stopped out, forcing short-covering—which further accelerated the rally
ETF inflows and a rebound in regulatory expectations continue to provide buying pressure. With news, capital, and a short-squeeze all pushing together, the big BTC pushed up to 70,000
Now the price is around 71,400. First watch whether it can hold above 71,687. After a breakout, keep an eye on 72,500. If momentum stays strong, next target is 74,200
The short-term move has been too fast. The closer you get to the resistance zones, the less suitable it is to chase. On the downside, first watch 70,500. The real line between bulls and bears remains 68,950
As long as it pulls back without breaking 68,950, the upward structure on the smaller timeframe is still intact. Only after a valid breakdown on the 1-hour chart should you look for a retracement and rebound support in the 67,800—66,600 range $ETH
The day before, it was still churning around 64,000, but in the blink of an eye it broke through the 66,000, 68,950, and 70,000 levels, with the intraday high smashing straight up to 71,687
This surge isn't a typical technical bounce. The U.S. Treasury expanded the scale of its long-term Treasury repo operations, pushing U.S. Treasury yields lower; expectations for improved liquidity quickly heated up in the market
After the news lit the fuse, BTC broke through the dense resistance zone around 66,000. A large number of short positions were liquidated or stopped out, forcing short-covering—which further accelerated the rally
ETF inflows and a rebound in regulatory expectations continue to provide buying pressure. With news, capital, and a short-squeeze all pushing together, the big BTC pushed up to 70,000
Now the price is around 71,400. First watch whether it can hold above 71,687. After a breakout, keep an eye on 72,500. If momentum stays strong, next target is 74,200
The short-term move has been too fast. The closer you get to the resistance zones, the less suitable it is to chase. On the downside, first watch 70,500. The real line between bulls and bears remains 68,950
As long as it pulls back without breaking 68,950, the upward structure on the smaller timeframe is still intact. Only after a valid breakdown on the 1-hour chart should you look for a retracement and rebound support in the 67,800—66,600 range $ETH