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Unlike the sharp downward trend seen earlier, Bitcoin is currently in a "time for space" correction phase on the daily chart. The price repeatedly battles around the 68,000 key psychological and technical resonance zone, with both bulls and bears showing extreme vigilance. The market rhythm has clearly slowed down.
From a technical indicator perspective, the daily MACD shows positive signals. The green histogram bars representing bearish momentum have shown a continuous and significant contraction, indicating that the selling pressure since the high point is accelerating its release, and market selling willingness has greatly weakened. This is often seen as a precursor to a trend reversal or at least a prolonged period of consolidation and bottoming, implying that the bears' dominance is weakening while the bulls' resistance is quietly accumulating.
It is recommended to go long around 66,500 and 66,000, with the initial target at 69,000, and a breakout to 71,000.