76k! Is Bitcoin at the top? Where can we rebound? Hurry and take a look.

1. First, let’s talk about why it dropped. Right now, this Bitcoin pullback has reached the highest point of this 3-month consolidation range: 76k. It’s only natural that when the price reaches near the previous high and starts to pull back. So after the pullback, can we make a rebound?
2. I think it can be tried, but we should rebound at a relatively stronger support. Currently, Bitcoin’s strong support is above 72.7k. Near here, I’ll definitely add another position—taking a rebound of more than a thousand points has an extremely high chance.
3. Next, the second question: Is Bitcoin at 76k just the top?
There’s a possibility, but based on how this year’s several top formations played out, they would usually fake a breakout above the previous high—for example, going up to 78k—tempting the bulls to break through and chase longs, and then wiping them out completely afterward. That scenario has a higher probability. Of course, the resistance around the 76k area near the previous high is also strong, so it’s a good choice too.
4. So in this situation, Shu Qin’s plan is to go in two steps, as shown in the chart. I’m having everyone place shorts at both major resistance levels of 75k and 78k. An adult doesn’t make choices—I want them all! When the price approaches the 76k resistance and pulls back to more than 73k, I’ll first take a round of the double-top pullback. This is something I also mentioned in yesterday’s post, where I was preparing the short setup.
5. Right now, my 75k short position will take partial profits. Let’s see if there’s a rebound—if it rebounds upward, we can short again. Trump often gives us surprises. But if it comes to going long, I’ll be more cautious, because after all, 74k isn’t low. I’ll only consider adding one more long if it pulls back to the larger support area around 72.7k–73k.
6. So our actions aren’t random. Even if there are positive signals from the US-Iran talks, if it’s already risen too much, we won’t chase longs. I emphasized this especially yesterday: even if you want to go long, you need an appropriate price before you consider entering. Then last night, with the market nearing the 76k resistance near the previous high, we were also very confident in taking a solid pullback. Grabbing opportunities every day and going all out—boom-boom!