• Technical Key Points Explanation:

• Bitcoin has broken out of the triangular consolidation, and after surpassing 69300, it continued to break out, reaching a peak near 71600, just a step away from the previous small double top pattern.

• Although it has made an upward breakout, the movement is quite rapid and not very stable, with insufficient pullback strength, coupled with very strong resistance at high levels, so do not chase highs or sell lows.

• From a daily chart perspective, the current strong resistance is at the previous double top position of 71800-72000, while the support is at 70200-71000, which is the position for a significant pullback from the previous high, where resistance has turned into support after the breakout.

  

• It is recommended to short Bitcoin in the range of 71800-72000, with a stop loss at 72500 and a target of 70700-70100;

• For the downside, it is suggested to look for a bullish opportunity if it pulls back to around 70200-70000, with a stop loss at 69500 and a target of 71300-71800;

• For more free real-time investment strategies, trading techniques, operational skills, and knowledge about candlesticks, you can scan the code to follow (WeChat Official Account: Trend Thought Notes)

  

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