Bitcoin has formed a bullish pattern on the one-hour chart and has broken above the resistance level we mentioned yesterday. As long as the price does not drop below the previous swing low, the structure is not considered broken. With the bullish pattern continuing to push, after the previous downward adjustment ends, there might be a sustained rise, and this rise could potentially break above 70,000, completing a significant short squeeze.

However, if the bullish pattern on the hourly chart is broken, it remains to be seen whether it will reverse or enter a consolidation phase, which will be observed later. $ETH $BNB