$BTC $ETH Bitcoin once again set a new historical high today, with the highest reaching around 73,650. The constantly refreshing historical highs have also made many people question whether this will become a recent high and then usher in a major correction.

However, according to the current situation, there are no negative factors in the market and data. Therefore, whether the high point of Bitcoin will become a historical high, there is a high probability that it will not at present.

The Cancun upgrade will be launched tonight. Unless there are major flaws in the Cancun upgrade, the collapse of the Ethereum ecosystem may lead to a market decline, but this is still a small probability event. And it is an extremely unlikely event.

Therefore, for the current trend of Bitcoin, for the resistance level above us, we should focus on the previous high and watch for continuous new highs. So everyone is worried about the pullback, so we will focus on the support situation. The support situation changed again today.

It should be noted that the current 1-hour Bollinger Bands amplitude has expanded to 3300 points. Contract traders from tonight to tomorrow should pay attention to the risk of large market fluctuations.

The first support is 71,400, short-term support, and the support strength is weak. This support is provided by the 4-hour middle line of the Bollinger Bands as technical support and can only be used as short-term fluctuation support. If it is an extreme market situation, it can be ignored directly.

The second support is 70,000, short-term support, and the support strength is slightly stronger. This support is effectively supported by the daily MA7 moving average. Compared with the 4-hour support, the daily support will be stronger. Moreover, this support allows contract trading to determine the fluctuation trend in the short and medium term. Once this support is effectively broken, the market will risk continuing to decline.

The third support, 67,000, is short-term support and has strong support strength. This support is provided by the upper line of Bollinger Bands at the weekly level. The support at the weekly level will be stronger than the first two supports. It should be noted that once this support falls below, there is a risk that the market will fall to around 63,000 in the short term.

The fourth support, 63,000, is a medium-term support. The support strength is average, but it can be used as a trading signal. Especially for spot traders. Once the market effectively falls below this support, the daily price trend will directly enter the lower track of the daily Bollinger Band. Short-term market fluctuations will increase, and the risk of continued decline will be greater. If the rebound is weak, the daily trend will even change.In spot trading, you need to pay attention to the situation of this position to control the position.

Based on the current market sentiment and trend, based on the current market sentiment and trend, we basically only need to open the first two supports. Of course, the third support must be referenced for the market trend. This support was also at the same position yesterday, and the market price reached around 68,620 yesterday. , although the support has not been tested, it has reached the support range I expected yesterday.

Sometimes the support that technical aspects bring us may be the consensus signal of the market, or even the focus of some traders, so we can effectively pay attention to the support situation and take defensive measures.