BTC Price Rebounds: Potential for Further Bullish Movement

The oscillation trend is moving downwards, with the low reaching directly around 65600. The hourly Bollinger Band opens downwards, and the K-line touches the middle rail to start the downward mode. The current downward trend has slowed down!

Today, it has stepped back to the 65600 level, forming a bottom-out rebound. It is currently moving up compared to the low point, and rebounded quickly after briefly touching it, indicating that the support is effective. The market price still has no strength to break through, and the double bottom rebounded. An hour ago, we gave a bullish layout idea around the support on the market. At present, it is completely in line with the market trend.

With the current steady rise, it is once again effectively confirmed that the support of 65600 is stable. The continuous decline today is an action to re-confirm the support. Then the entire callback is a downward adjustment after the previous big rhythm rise. As As time goes by, waiting for the correction cycle to end, followed by the recovery of the bulls, then we can continue to be further bullish on Bitcoin, and continue to maintain our bullish thinking in the late trading.

Suggestion: If the fall back to 67,300 continues, focus on the pressure of 70,000. If it reaches 70,000 again without forming a limited breakthrough, we need to make adjustments on the spot!

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