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3.10 Bitcoin Evening Analysis
Tonight, Bitcoin is pulling back around 71,260 to build strength, which is a strong shakeout move. The selling pressure at high levels has been fully absorbed, and the bullish pattern remains intact. Currently, the price is consolidating around the 70,455 MA7 moving average. A pullback presents a good opportunity for long positions, with strong support below.
In the short term, focus on the 70,450 support level; holding above this could lead to another attempt to reach the previous high. If broken, watch the strong support at 70,000, where the probability of a bullish rebound is very high.
For trading, it is recommended to mainly go long on dips, with light positions around 69,300-69,800. Target prices are 71,200-71,500, with a breakout potential at 72,000. Strict stop-losses should be used, and trades should be made in line with the trend.