Bitcoin made a second attempt to push higher near 74,000, then pulled back. My current market view remains unchanged: do not go long above 70,000 as there is no value proposition. For those holding short positions that haven't broken even, continue to hold them. A break below 68,000 is needed for a significant decline. The price action shows a double-needle pattern testing the top at 74,000 under pressure, and a sharp sell-off could happen at any time. Hold your short positions firmly. If you want to go long, in my view, there is only value below 70,000. If support at 68,000 or 65,000 doesn't break, entering long positions at these support levels is where real profits can be made.
Bitcoin made a second attempt to push higher near 74,000, then pulled back. My current market view remains unchanged: do not go long above 70,000 as there is no value proposition. For those holding short positions that haven't broken even, continue to hold them. A break below 68,000 is needed for a significant decline. The price action shows a double-needle pattern testing the top at 74,000 under pressure, and a sharp sell-off could happen at any time. Hold your short positions firmly. If you want to go long, in my view, there is only value below 70,000. If support at 68,000 or 65,000 doesn't break, entering long positions at these support levels is where real profits can be made.