$BTC Evening Market Analysis!

Bitcoin has been trading within a narrow range today, with no significant volatility. Keep your hands steady and avoid overtrading; frequent trades not only prevent profits but also increase the risk of being swept out repeatedly. Today is Saturday, and with low market volume and poor liquidity, any upward moves are mostly fake.

Currently, Bitcoin is attempting to break the resistance near 68,500. This has been attempted several times without success. Over the weekend, with limited funds, it’s unlikely to break through; at most, it might briefly spike to around 68,300 to clear out short positions, then fall back as it rises. Don’t be fooled by these false breakouts.

To truly move higher, volume must pick up and hold above 68,500. Only then can targets like 69,200, 70,100, and 70,900 be considered. If it cannot hold, any rise is meaningless.

The key support level below is around 67,600, which is the bottom of the triangle consolidation. As long as the price oscillates within this range, there’s still a chance for an upward move. Once it breaks below this level convincingly, it could test 66,700 and 65,200, signaling a weakening trend.

Trading strategy: Break above 68,300 with increased volume to chase long positions on rebounds; if it drops below 67,650 with volume and fails to recover, consider short positions. Regardless of position, always set stop-losses—don’t gamble on the direction.

From a cycle perspective, a daily close above 68,500 indicates a bullish trend, while a four-hour close below 67,500 suggests bearishness. The daily chart shows a W-bottom pattern with a neckline around 70,600. Only a breakout above this level will truly trigger a sustained daily rebound.

Currently, negative news outside has not fully played out. Once negative news hits over the weekend, its impact could be much greater than usual. So, don’t blindly expect bullishness; watch volume closely, wait for clear signals, and always prioritize risk management.