U.S. stocks opened higher and continued to rise rapidly; Bitcoin moved in tandem with a rebound, currently being pressed down by the hourly MA60 at the 70,000 level;

Technical analysis showed an oversold condition early this morning with a close at 59,800, coupled with positive news later in the day, which triggered a sharp rally in U.S. stocks.

The only bearish factor: a joint statement from the central bank and seven other departments claiming that cryptocurrencies lack legal tender status. It’s of no use at all; they simply ignore you!

Due to the strong correlation, BTC’s technical outlook may be temporarily distorted, but the overall trend remains bearish. Additionally, U.S. stocks closed with a weekend sideways movement, creating high uncertainty. It’s not recommended to open new positions.

Clear market conditions should be exploited aggressively, while indecisive markets are better to observe; holding no positions is also a valid strategy.

Going all-in with heavy positions, adding to floating profits, and frequent trading; stop-loss and liquidation are the likely outcomes.

The crypto world is a journey of self-cultivation—stay calm and steady, and pursue long-term, stable growth!