Bitcoin bull trend is healthy, the next target is 71000?
We now have two perspectives to look at the trend of BTC
Two consecutive relays, breaking through the first relay and stepping back to the lower support pressure exchange position, the upper part of the small cycle encounters horizontal pressure again, but the overall low point is constantly rising, and it is still judged to be bullish. (Figure 1)
The 30-degree oscillating upward channel, generally the rise or fall of 30 degrees, the running speed will not be too fast, but the overall is relatively stable and has good continuity (Figure 2)
From these two perspectives, the bull trend is still healthy, and there have been multiple bullish entry opportunities before, and now they should all be floating profit stages.
As long as the price does not break the key position below, it should remain bullish, and then redefine and review it after breaking.
If the price continues to strengthen and breaks through the upper pressure, where should the target be?
From the perspective of the high-level large shock range in the 4H cycle, the chip distribution in the market is drawn, and it can be seen that the overall chip distribution is relatively uniform. However, the chip volume begins to shrink rapidly near 71,000, which can be temporarily defined as the potential pressure here. At the same time, the pressure line is drawn, which coincides with the previous horizontal pressure. Therefore, if the price continues to strengthen, the next important resistance is around 71,000 (Figure 3)
