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Bitcoin yesterday maintained an overall pattern of narrow-range consolidation, with the volatility clearly much smaller. Although it showed a slight upward fluctuation, this weak rebound did not change the bearish pattern of the market’s larger cycle.
From the market structure perspective, the rebound has always failed to effectively break through the key resistance range. Bullish strength appears extremely thin, lacking sustained upward momentum and trading volume support.
The overall situation remains clear: bears still dominate. In terms of trading, you should currently mainly go short at high points. Do not be misled by short-term minor rebounds into blindly bottom-fishing. Every rebound is a high-quality opportunity to set up short positions. Focus on the pressure signals at the resistance levels above; once the conditions are met, enter short positions in batches, strictly following the trend-following trading principle.
Trading suggestion: short around 73,200-73,800, and look for a move down to around 71,600-71,000. If it breaks below 71,000, set your defense based on your own position.
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