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From a technical perspective, after breaking through key resistance levels, BTC has effectively opened upside space with a further established bullish structure. The smaller timeframe is consolidating at elevated levels. Following the rally, price is holding firm at higher grounds with limited pullback intensity, suggesting strong bullish support accumulation. Considering the moving average system and other auxiliary indicators, the overall trend displays oscillating uptrend with accumulation characteristics. The bullish alignment of moving averages provides support for price, with near-term consolidation leaning towards a time-for-space correction pattern.
Recommendation: Take long positions around 69200 and 69700 as support levels, targeting 71800 first, with a breakout targeting 74300.
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