The US stock market opened low and rose high, BTC's rebound is under obvious pressure, giving high short opportunities during the fluctuations.

Yesterday morning, BTC retraced near 65500 and found support to rebound, not a one-sided surge, as every resistance level saw a pullback. In the afternoon, a short position at 68000 successfully gained 1000 points; before the US market opened, it was predicted that the US stocks would be under pressure, and in reality, there was a first suppression followed by a rise. A short position near 69300 was advised to take profits near 68800 due to risk control. After piercing above 69400 in the early morning, it retracted to 68200, and the evening's short position at 69300 could also aim for a 1000-point move.

From the market perspective, on the hourly chart, the two retracements in the early morning and morning did not break below 68000, and the retracement range has narrowed, with the downside not breaching the middle track; the lower support has risen to 67300, and the moving averages at 67500-67800 have formed resistance against declines, showing a strong willingness to rebound. However, the rebound has not strongly broken through the upper track at 69500, and both long and short positions remain in a range-based fluctuation, so caution is needed when adding long positions.

The bullish momentum on the 2-hour chart is weakening, and the 4-hour indicators are slightly bullish, but it is challenging to hold above 69000; the daily line has strong resistance at 71200, which is the extreme risk control position for shorting.

BTC Trading Suggestions
Go long near 68500-68800, add long at 67500, with a target of 70000-71000.

Follow the public account, the way to relieve worries, is only by Jiang Wei, a treasure analysis blogger filled with emotional value, sharing trading education for free, bringing stability and clear guidance in the restless trading market, traversing three cycles of bull and bear markets along with years of practical trading experience, proficient in naked K, trends, Dow Theory, Gann, harmonics, Chan Theory, Elliott Wave Theory, and other technical analyses, gathering into unique personal insights.

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