Bitcoin has broken out of its downtrend, and a new trend channel is being established! Waiting for a second entry opportunity!

Bitcoin's major downtrend line has been broken, and Bitcoin has achieved three consecutive weeks of gains. When the downtrend line is completely broken, it means the trend is beginning to reverse, a new trend channel is being established, and the market will provide a second pullback opportunity, which will be the second best entry point. Within the $126,173-$59,909 range, the current price has broken through the 0.236 Fibonacci retracement level. The price will subsequently trade within the 0.236-0.382 Fibonacci retracement range ($75,600-$85,260). Within the $97,900-$59,903 range, the weekly candlestick shows a solid bullish candle, and the price has successfully broken through the 0.382 Fibonacci retracement level ($74,500) and is attempting to break towards the 0.5 Fibonacci retracement level ($78,800). Next week will be crucial. Support levels to watch: 74500-75500; Resistance levels to watch: 78800-85000; Trading strategy: Primarily buy low and sell high. Recommendation: Buy Bitcoin at 74500-75500, stop loss at 73800, target 78800; break above to 83000-85000.