$BTC Evening Market Analysis!

Tonight's Bitcoin price action has been very volatile, bouncing up and down without any stability. Don't expect a quick rebound after a sharp drop; V-shaped reversals are unlikely. Staying steady with a sideways consolidation is more reliable.
Previously, the trumpet pattern experienced a false breakdown and scared traders, but now it has recovered and directly broke through the 65210 resistance level without any consolidation, sharply rising again. There are no obvious positive signals; this is purely an oversold technical rebound.
The key level to watch now is 66744: if it can hold steady and swallow the previous large bearish candle, the price will return to the consolidation zone. Resistance levels are at 67754-68505. If it cannot break above, a second test of 64786 is likely, which is the bottom line. Do not break the previous low; if it does, the next target is 63634.
In simple terms, this is just a rebound after a deep decline, not a reversal. If it hasn't broken through key levels, avoid chasing longs.
Trading strategy: a volume breakout above 66717 can be considered for a cautious long position, with proper stop-loss placement; if it drops below 65870 with increased volume and cannot recover on the rebound, consider shorting on the right side.
On the hourly chart, only if it stabilizes above 66744 will it continue to bounce, targeting 67754-68505; on the 4-hour chart, if it breaks below 65778 and cannot recover, it will continue to decline, with targets at 64778-64064.
From the retracement perspective, this wave of decline has reached its bottom. Whether it can continue to rise depends on whether the hourly support at 65887 (61.8%) can hold. Only if it holds will the rebound continue; a break above the 38.2% level indicates a strong bullish trend. If it tests the previous low of 64220 again and breaks below, the next target could be 61361. If the market turns strong, it will be difficult to see such deep declines in the short term.
In summary: focus on key level breakthroughs, avoid chasing longs or panicking during sideways markets, set proper stop-losses, and don't be greedy in consolidation phases.