Bitcoin yesterday experienced a retracement wave, I said that a retracement is just a trap for stop-loss hunting, and the market followed as expected. After falling, it continued to repair the price, and at 4 a.m. it reversed with a strong bullish move up to the 75,500 resistance level, once again testing the 76,000 heavy pressure point. This level has been tested multiple times; if it cannot break through effectively, the price may continue to decline and consolidate.

The four-hour chart still shows the price operating around the middle-upper band, with Bollinger Bands gradually opening upward. The upward channel is gradually forming. The reason why it hasn't broken out and risen yet is that the price needs to wait for support from the bottom moving averages, 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, it is a consolidation with an upward trend, and it’s better to follow the support points for a rebound and go long. Look for multiple entries on dips around 73,800-73,500, with targets gradually increasing. The first target remains at 76,000. If it can break through effectively, then look at around 77,800.