2.24 Midday Silk Road and Recommendations

Bitcoin has undergone a textbook-style decline followed by a natural rebound and a second test. It started to fall to 64,314, activating buy orders around 64,000 and beginning to rebound. The rebound reached the lower boundary of the triangle and the resistance zone at 66,790, encountering resistance and causing a second pullback. The previous low before the second pullback did not hold, resulting in a lower low. Everything seems to be quite reasonable. Currently, the resistance zone for Bitcoin is between 64,997 and 65,293. Only by returning to this range on an hourly basis can the decline stop, and an upward target of 65,850-66,790 can be considered. If it does not re-enter this range, it will continue to fluctuate around 64,997-63,373 after a decline, with the possibility of testing the 60,000 level if the previous low at 63,373 is broken. Since no signs of stabilization have appeared, avoid trading against the trend. Only a break above a certain resistance level can trigger a long entry on the right side to catch the rebound.

Bitcoin with volume breaking through 65,025 can be chased on the long side to catch the rebound. If it breaks below 63,667 with volume and cannot recover, consider shorting aggressively, with proper stop-loss in place.
If Bitcoin breaks above 65,025 on the hourly chart and stabilizes, look toward 65,850-66,790. If it cannot surpass 65,025, it is useless.
On the 4-hour chart, if it breaks below 63,667, look toward 62,725-62,052.
Upper resistance levels: 65,025-65,850-66,790
Lower support levels: 63,830-62,660-61,675

Yitai Silk Road
With volume, breaking through 1,868 can be chased on the long side; cut losses if it pulls back.
Breaking below 1,838 with volume can be shorted on the right side; set stop-loss accordingly.

A pullback to 1,785 confirms support and adds one position,
Break below 1,727 to stop-loss.
On the hourly chart, if it stabilizes above 1,868, look toward 1,905-1,935.
Watch for a short entry at 1,905 if it reaches above,
Stop-loss at 1,944.
Pin needle Silk Road suggestion: around 1,700, stop-loss if broken below 1,664.

Upper resistance: 1,868-1,905-1,935
Lower support: 1,793-1,738-1,662
On the 4-hour chart, if it breaks below 1,798, look toward 1,755-1,695.
Yitai downward pin hits exactly at the lower boundary of the bullish flag pattern. This pin is not a bottom signal because it’s not long enough. If Yitai cannot stay above 1,835, it will test the lower boundary of the flag again. If it cannot hold 1,765, it will drop further. Only a break above the marked position at 1,869 can lead to a rebound; otherwise, it will continue to decline.
The above is only personal advice; please follow Sister Lin’s layout for specific guidance.