🍋4.4 Midday Bitcoin Market Outlook

Bitcoin has been fluctuating throughout the day without a clear direction. Such extreme sideways movement often indicates that a major trend is about to emerge.
From a structural perspective, neither of the previous two upward waves reached a 1:1 target gain: the first should have rebounded to 68111 but fell short; the second was expected to surge to 67385 but also failed to reach it. Both upward moves fell short, suggesting that the current consolidation within the red box is likely nearing its end.
After this phase, a pullback is highly probable, but only if certain conditions are met: a break below the flag pattern would test the support at 65665; if 65665 is broken, the price could further decline to the previous low of 64930 and a new low at 63832.
If the flag pattern and 65665 hold, the market will likely continue oscillating within the range until a clear direction is chosen.
To initiate a rebound, a strong break above 67319 is necessary to set new highs; otherwise, the upward potential remains limited.

Trading Strategy
• A volume breakout above 67020 suggests a long entry for a rebound.
• A volume breakdown below 66662 with a failed retest indicates a short entry.
Be sure to set strict stop-losses.
• Hourly chart: Hold above 67020, with resistance at 67915-68623.
• 4-hour chart: Break below 66471, with support at 65603-64983.