This morning's price action was a classic scenario of both longs and shorts being liquidated, but we accurately captured 1,000 points of profit with our long position at 74,600 in early trading and took profits at 75,600—managing the rhythm well. Currently, the price has retraced to around 74,000. From a bullish perspective, this pullback appears more like a correction of the previous gains. Although it dipped to 73,700, the hourly chart shows it did not effectively break below the concentrated trading zone of 74,500–73,700, and it quickly recovered above 74,000, indicating that buying momentum remains strong. Such sharp declines are often a "long shadow" tactic used to shake out leveraged longs in a bull market.

From a structural standpoint, the 4-hour ascending channel remains intact. The spike to 75,998 this morning was a test of the previous high resistance, and the subsequent pullback can be seen as a technical retracement. As long as the support zone of 73,500–73,700 holds, the bullish structure with rising lows remains solid. If the price can stabilize above 74,500, the bulls will regain control. Meanwhile, during the decline, volume did not show panic-driven continuous expansion; instead, it significantly decreased at lower levels, indicating that bearish selling momentum is weakening. Once selling pressure diminishes, bullish funds are likely to re-enter during the European and American trading sessions.

Since we have already taken profits at the 75,600 high and are now in cash, our mindset is relaxed. Chasing short positions around the current level (near 74,000) carries considerable risk because the downside space is limited and support levels are dense. For a bullish bias, focus on whether the 73,700–74,000 zone can form an effective stabilization signal. Once volume at the bottom increases or reversal candlestick patterns appear, that will be a more reliable entry point for a short-term long position. Markets change rapidly; real-time strategies should be adjusted according to the latest market signals. #Gate广场AI测评官 $BTC