The outsider quoted a graphic analyst as saying that bitcoin had failed to last this week, that prices had quickly fallen, and that both the recovery and the reverse traders had been hit. According to the article, after short-line fluctuations, the market returned to several more direct price bands, of which the vicinity of $6.25 million was considered the most important supporting belt at present.

$6.25 million near the main support

According to the analyst, bitcoin had previously been sorted in the triangle for days, and prices had once broken upwards, pushing some traders to continue their bets. But the breakthrough failed to stand, and then turned into a “false breakthrough”.

According to them, the area of greatest interest on the current chart is close to $6.25 million. This position is important because it overlaps with a number of common reference areas, including the most heavily traded areas in the near future, the average price band that has been extended from the previous low-point round, and the line of up-and-up trends in the recent past.

Redirect the target.

The article also mentioned that the analyst viewed the recent movement of Bitcoin as part of a round of ABC adjustments, and that the current fall was classified as the second part of the subsequent subdivision.

  • It's near $6.36 million.
  • Deeper target is near $6.25 million.
  • If you break $6.17 million, you'll see that the rise will be destroyed.

That is to say, $6.25 million is not only a junction-intensive area, but also a place where a deeper round may end. If prices continue to decline and fall effectively at $6.17 million, the original multijudgment will lose support.

The resistance above looks at $657 million.

In the upward direction, the analyst focused on resistance near $657 million. According to the article, this area has multiple liquidity positions and is close to the drop-up route, so that short-line strokes may be more concentrated.

If bitcoin re-positions and creates a stronger upward mobility, the next target could be between $68,000 and $69,000. The region is also close to its extended target area with an average price resistance band at the daily level.

The article concludes by mentioning that the analyst still maintains a bitcoin and a lot of judgement in Taifung and holds a lot of silos in Hyperliquid. In his view, as long as bitcoin remained above the lower point in the near future, it was more like a retest of the supporting position than the trend had turned empty.