When many friends see this pullback, the first thing they think is: if my short position can hold out a bit longer, I'll break even now. If I don't stop loss, I'm making money now? Why think this way? This kind of thinking is very dangerous. Although stop loss set too tight is easy to get stopped out, stop loss is a very important life-saving measure. Especially when sudden news or current market movements suddenly spike up, if you dare to hold the position, you might get liquidated anytime. Even if you're lucky enough to survive a few times, just one liquidation will wipe out your entire capital and profits. So you must set stop loss, and close the position decisively when it hits. As long as you keep your principal, you won't worry about running out of ammunition #CryptoCircle#比特币站上7.5万美元

Bitcoin briefly broke through $75,000 during Asian early trading, reaching a six-week high, before quickly pulling back below that level. Analysts at 10x Research attributed the initial surge to the closure of large short derivative positions, which forced market makers to buy Bitcoin, pushing up spot prices. However, the rapid pullback in gains and the lack of significant bullish call buying suggest that this rally was driven more by hedging position liquidations rather than new bullish sentiment. Bitcoin's failure to hold the key resistance level of $74,400 indicates that traders remain cautious, with major altcoins such as Ethereum and Solana also pulling back from intraday highs.

The afternoon trend was somewhat stronger than at midday. I’ve been hesitant to open short positions after noon, mainly because before 4 PM, ETH’s support levels are roughly around 2292 to 2288. Although the 2-hour chart shows a death cross signal, there is support near 2262 below, and the 4-hour and longer timeframes do not show any obvious bearish divergence. The downward momentum seems insufficient, making it a bit painful to hold short positions at this point. As mentioned this morning, when the price was around 2378, a short scalp to 2336-2316 could be considered, but that move has already played out, so it’s not suitable to repeat the same operation. For more aggressive traders, considering long positions around 2292 could be an option. Conservative traders avoid this area mainly because they feel the risk-reward ratio isn’t attractive enough—if the price breaks below this level, the stop loss might need to be moved back by several dozen points, which isn’t very cost-effective. As previously mentioned, if the price breaks through 2336, the safety of chasing longs is actually higher than entering longs on a retest of 2292. 2292 is a key level to watch right now. As long as the price can break through the small bearish candle on the left around 2328, the trend could quickly reverse upward, turning 2292 into the low point of a “V” shaped bottom. Therefore, long positions entered after such a breakout tend to be more reliable in actual trading. Bitcoin follows a similar logic—if it breaks through 74,600, chasing longs can also be considered. Follow Mo Yan, focus on contract and spot ambushes, the team still has positions available, get on board quickly: #币 $BTC $ETH