The recent market trend has been steadily rising since bottoming out at 6,500 and then stalling; after that, it has been volatile and pushing upward all the way. Currently, the recent high has already reached the 70,350 area, but it has faced some pressure. Although there is a pullback in the short term, it does not affect the overall upward pace.

Since last week—meaning at the beginning of the month—we have been consistently suggesting a bullish outlook. The upside move and room for further gains are also quite considerable. At the very least, you have to admit this: the market is going up, not going down. So, in terms of the approach, there is definitely nothing wrong with it.

Whenever there has been a pullback, have I ever backed off? Haven’t we all ended up coming back in the end? As the saying goes, the current market is not one-directional. In the past two weeks, we went short from 75,500 all the way down, and then at 65,500 we looked for a bullish move—hasn’t that been realized?

So for tonight, we should still focus mainly on going long on pullbacks. In a ranging/volatile market, we do not bet on a one-sided move. For this round, first we look for above 72,000, then consider looking lower. $BTC ‌