Bitcoin encounters pressure and will pull back

The good news gives the market an opportunity to quickly pull back, but when investing, we also need to refer to the technical and fundamental aspects. Next, I will analyze the market from a technical perspective

Although today's surge has increased our market enthusiasm, we have seen from the weekly level that Bitcoin has walked out of the dead cross pattern, and the overall trend is currently a shock pattern. The Bitcoin daily line has now broken through a previous high point, which is the first pressure position of 65550.

And due to the current investment enthusiasm, the pressure position of 65550 is actually not so unbreakable. Let's look up. There is a very important position not high from 65550, that is, 67220. This position has been oscillated many times before, and a lot of locked-in plates have gathered. This is also the key position of Fibonacci 0.786, and it is also the 5MA pressure point of the weekly rebound. Based on the principle of resonance, the pressure here is greater, so short-term rebounds must observe this point!

The views in this article are all personal analysis, not investment advice. If you have different opinions, you can hit the comment area, and we will discuss rationally together!

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