$BTC Bitcoin's current market movement is like fish in a pond.

Right now, Bitcoin is like a big fish that has successfully jumped over the shallow water at 70,000 and surpassed the previous high, showing a strong momentum. But be cautious, it suddenly surged at the 70,100 level, like a fish suddenly exerting force and then wagging its tail to swim back, forming a bearish engulfing pattern. This is a dangerous signal. If this high point isn't broken, the probability of a pullback is high.

The 70,000 level and the upper boundary of the flag pattern are like a net in the pond—either trapping the fish together or being broken through. If the fish oscillates back into the flag pattern, there’s still a chance to push higher; if the net is completely broken, the first thing to watch is the weed zone around 69,300. If it can't hold, it will retreat to the riverbed at 68,668-68,348. Once it breaks below 68,348, the bullish trend is over, and a correction officially begins.

The only way for this fish to swim forward smoothly is to stay above the 70,000 boundary. For trading, aggressive traders can wait for a volume breakout above 70,868 before entering long positions; if it falls below 70,004 and can't rebound, you can short it—just remember to tighten your stop-loss.

Additionally, on the hourly chart, this fish's three jumps are a bit weak, with the third jump clearly weaker than the first two, indicating it’s getting tired. Plus, today is the weekend, with no new bait (positive news), so be cautious of a trap to lure more fish from above, and don't get blinded by the upward movement.