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Today’s Bitcoin Strategy
First support level for long positions: around 71,580. If the price pulls back and stabilizes with a bullish candle and stops falling, consider a light long position.
Second target support: around 70,050, a strong support level. If the price pulls back without breaking it, it’s a safer point to add to long positions.
Long positions around 71,580:
Stop loss below the previous low at 71,200 + moving average; trend weakening.
Long positions around 70,050:
Stop loss below 69,700, the start point of this round of acceleration in the upward move.
First target: previous high at 72,743; after breakthrough, look for 73,000-73,500.
Second target: if unable to break 72,743, take profit in the 72,500-72,700 range.
Core logic: After an extreme rally, overbought conditions require a pullback, but the overall trend remains upward. Short positions are only suitable for quick entries and exits with strict risk control.
After a pullback and stabilization, look for short opportunities.
First short entry: 72,500-72,700 (near previous high, when it fails to break through under pressure).
Second short entry: if a second test of 72,700 fails, add to short positions.
If the price breaks above the previous high, the bearish logic invalidates, and exit is necessary.
First target: 71,000
Second target: 70,500