Evening Bitcoin Outlook

Although the second rally is attempting to break free upward from the bearish flag pattern, the strong resistance at 2280 has yet to be effectively broken through.
Only with increased volume and a firm hold above 2280 can the market return to the resistance zone of 2308–2342, ending the current downward correction and allowing further upward movement.
The 4-hour triangle consolidation pattern has already broken down, and the two subsequent rebounds failed to regain the inside of the consolidation range.
Currently, the lower boundary of the consolidation has become a strong resistance on the 4-hour chart; if the price can re-enter the range, it indicates a stabilization of the correction.
If it cannot, the weakness will continue, and a deeper pullback is expected.
From the Fibonacci structure, the current correction’s 1:1 target has basically been reached; the focus now is on whether the current support can hold.
If support holds, the market will oscillate and recover; if it fails, it will extend to the 1.618 extension level, and we can observe the market development.
Conversely, if a short-term decline breaks below the key support at 2233, the previous low at 2218 is likely to be broken, serving only as a temporary buffer and not a strong support.
Once 2218 breaks downward, the hourly core support is at 2173; subsequent focus should be on whether the 2173 price stabilizes, then consider long positions accordingly.
In the short term, the market is stuck in a narrow range of 2233–2280, waiting for a breakout to determine the direction.
Trading Suggestions:
Break above 2264 with volume, follow the trend and go long;
Break below 2232 with volume, follow the trend and go short;
If the hourly chart stabilizes above 2264, target 2303–2335 on the upside;
If the 4-hour chart effectively breaks below 2231, look at the support zone of 2173–2126 below.

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