Bitcoin shows a bullish breakout signal, with key support and resistance levels on the intraday chart facing a crisis

Reviewing yesterday's market scenario, did we successfully escape or suffer a washout?

Pushing for a short squeeze without entering aggressively, bullish sentiment suppressed the market’s decline. The Middle East situation also contributes to market volatility, and how will the upcoming positive or negative news develop?

Market sentiment remains crucial. Although Bitcoin and related investment products are experiencing capital inflows, negative impacts are caused by the UK央行's concerns about smart contracts and Japanese investors selling overseas bonds.

Bitcoin's rebound after finding support proceeded as expected. The pre-market signal yesterday indicated an upward trend, and the European session’s key level was not triggered, missing by about 100 points. Small timeframes are showing signs of a rebound. At this point, the key is to avoid hesitation. Entering long positions around the 70,000 level on the daily chart, and Ethereum is also moving in sync. After the US stock market closed, bulls volume increased, testing resistance and then consolidating. The focus remains on the 730-740 resistance zone for a potential rebound. Even if the high of the evening wasn’t reached before the close, the current outcome is still quite satisfactory.

Currently, Bitcoin is in a high-level consolidation phase. Short-term momentum is slightly bullish, but low trading volume and the appearance of a small-scale bearish engulfing pattern suggest some room for a correction. The price is above the middle Bollinger Band, RSI is in a neutral zone, and even in the short term, the correctional sentiment remains bullish. Short-term moving averages also show a bullish trend. Only by combining individual technical indicators with the overall market condition can we determine the direction.

Today, Bitcoin is gradually accumulating around 71,500, with a focus on the 72,800-73,500 zone for a rebound. If the daily chart breaks above 74,000, the target can be moved higher, with an ultimate limit around 74,800-75,300.

Ethereum is steady, with a phased buy-in around 2,080-2,100. For a rebound, watch Bitcoin’s real-time volume response, as it tends to follow Bitcoin’s movement. The target is 2,160-2,200. After breaking higher, consider phased protection around 2,230-2,270. Adjust your strategy based on your actual holdings and risk management!