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Let me clarify the following thought process for everyone:
This kind of high-reversal candlestick pattern, to put it simply, means—prices go up but then get hammered down, bulls want to push higher but can't.
Looking at the details, the candlestick bodies are getting smaller and smaller, with upper shadows appearing one after another. What does this indicate?
It means there are continuous sell-offs above, and fewer and fewer traders are chasing the highs.
Now, above 68,000 has clearly become a short-term resistance zone. If we want to move higher, it's not going to be easy.
The trading strategy is very simple: rebounds are opportunities, don’t chase longs.
Target zones for short positions are: 67,800–68,500, aiming for 66,500; if broken, then watch for 65,000.
For the second target: 2,080–2,120, initially aiming around 2,000; if broken, then look for 1,900.
In one sentence:
If it can't go higher, it's a shorting opportunity—don't pick the wrong side.