BTC experienced a sharp decline during Black Monday, followed by a technical rebound, with a strong bullish candle reclaiming the 71000 level. Yesterday's reminder about the 71-72 key resistance zone with dense trapped positions proved accurate, as the market precisely touched that area as expected.
Currently, BTC is in a weak rebound phase following a pause in news flow. Although the 71000 level has been reclaimed, there is significant resistance above, and liquidity has not materially improved. Overall market sentiment remains fragile with intense long-short positioning battles.
During the day, watch the resistance zone around 72000-73000. If this area breaks through with volume expansion, the rebound may continue; if it encounters resistance and reverses, it could fall back to key support levels at 68000-69000. If that level is breached again, the market will likely continue testing the 65000-66000 range.
BTC experienced a sharp decline during Black Monday, followed by a technical rebound, with a strong bullish candle reclaiming the 71000 level. Yesterday's reminder about the 71-72 key resistance zone with dense trapped positions proved accurate, as the market precisely touched that area as expected.
Currently, BTC is in a weak rebound phase following a pause in news flow. Although the 71000 level has been reclaimed, there is significant resistance above, and liquidity has not materially improved. Overall market sentiment remains fragile with intense long-short positioning battles.
During the day, watch the resistance zone around 72000-73000. If this area breaks through with volume expansion, the rebound may continue; if it encounters resistance and reverses, it could fall back to key support levels at 68000-69000. If that level is breached again, the market will likely continue testing the 65000-66000 range.