Bitcoin current price above 74,300, the short-term market has seen a clear upward trend, originating from the news of the second round of negotiations in the US-Iran conflict last night, with geopolitical tensions easing expectations, directly driving the market funds to move sharply higher.

Looking back at the technical charts, I previously reminded everyone that the 70,500 level connects to the lower boundary of the small-term upward channel, combined with Fibonacci 0.5 double support, which provides conditions for a rebound and rally. The market also tested the pressure of the bear market trend line as expected.

At this stage, the price has already touched the upper boundary of the small-term upward channel, with short-term resistance at 75,000, and the previous high at 76,000 continuing to suppress the bulls. In the larger cycle structure, the key resistance of the falling flag pattern's upper boundary is concentrated at 80,000, with layers of resistance clearly visible.
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