Bitcoin experienced a pullback yesterday. I said that a pullback is just a trap for stop-loss hunting. As expected, the market continued to decline, then started to recover, and at 4 a.m. it reversed sharply with a strong bullish move up to the 75,500 resistance level. It then tested the 76,000 heavy pressure point again. This level has been tested multiple times. If there is no effective breakthrough, the price may continue to fall and consolidate sideways.

The four-hour chart still shows the price maintaining its position between the middle and upper Bollinger Bands. The Bollinger Bands are gradually opening upward, indicating an upward channel is forming. Why hasn't it broken out and moved higher yet? Because the price needs to wait for support from the moving averages at the bottom, so it can rise more steadily later. It's like building a house—only with a solid foundation can the house be built taller.

Currently, the market is in a sideways upward consolidation. It’s better to follow the trend and buy on dips. Look for support around 73,800–73,500 and buy in stages. The target will be reached gradually, with the first target still at 76,000. If an effective breakout occurs, then look toward around 77,800.