260407 Market Analysis

After experiencing a strong rally over the weekend, Bitcoin is now entering a high-level consolidation phase. Both bulls and bears are engaged in intense competition around the previously mentioned 70,000 level. Since February 2026, whenever the price approaches the 70,000 to 80,000 USD range, liquidity shortages and profit-taking pressures have emerged, limiting the rebound potential. We have also placed multiple short orders at high levels, and this time is no different: short-term chasing gains carries significant risks that should not be ignored.

On the support side, $68,000 is the primary intraday support and an effective area of multiple recent rebounds; if it breaks below this level, it will test $67,300, with further support at $66,000.

On the 4-hour chart, the downtrend has stalled above the $66,000 support level. This cryptocurrency is currently rebounding above $66,000 support and below the moving averages, likely to continue oscillating below resistance at $70,000.

Long strategy: Focus on the stabilization opportunity in the $68,000 to $68,300 range, which has been an effective support zone in recent rebounds. This kind of partial long position is best to enter and exit quickly.

Short strategy: If the price encounters resistance in the $70,200 to $70,500 range with decreasing volume signals, consider entering short positions, targeting first $69,000, then $68,200. If the price breaks below $68,000, look toward $67,300...

Key support for Bitcoin is at 2080; if broken, look toward 2020. For long positions, it is recommended to consider around 2020.