Tuesday's Bitcoin Morning View: After a rapid decline to around 59,800 in the early stage, Bitcoin formed a temporary bottom and is currently in a corrective consolidation after the decline. The price rebounded to around 70,000 but faced clear resistance, consistently trading near the middle band of the Bollinger Bands. The upper middle band and short-term moving averages are forming a confluence resistance, resulting in a weak rebound momentum. Overall, it remains a weak rebound rather than a trend reversal. The Bollinger Bands are still opening downward, indicating that the bearish structure has not been broken. The current sideways movement is more of a consolidation during a downtrend.

The high shorting strategy given yesterday has been successfully realized, with the price falling as expected to around 68,000 target level. Afterward, when the US stock market opened, market sentiment was driven by short-term factors, leading to a quick surge, reaching near 71,000. However, this kind of emotional rally did not sustain effectively, and the price quickly retreated again, still showing a weak rebound structure.

Today’s intraday strategy remains focused on shorting on rebounds. The 70,000-71,500 zone is a dense resistance area; consider gradually shorting near this zone. The first support is at 68,000, with further attention to the 66,000 level for potential support. If the market unexpectedly breaks through and stabilizes above 72,000 with increased volume, short positions should be closed with stop-losses, and new structure confirmation is needed before re-entering. Overall, avoid chasing highs or bottom-fishing; follow the rhythm and be patient for the high points.
$BTC ‌#当前行情抄底还是观望？
#我在Gate广场过新年