Bitcoin is about to attack the Bright Summit! Will it break through 76k and surge? Let’s take a quick look.

1. Just this week, Bitcoin has already broken through 75k for the fourth time, and it’s also the second time aiming for the previous high of 76k. The bullish momentum is strong, mainly driven by the US-Iran talks. As long as the negotiations are not concluded, the market keeps expecting this positive news. So, how should we operate now?
2. To start with the conclusion: I think the final top might be around 78,000/79k, because every time Bitcoin drops, there’s usually a false breakout beforehand, so there’s no reason this time wouldn’t be the same. Of course, if you prefer a safer approach, you can wait until the US-Iran ceasefire is underway before shorting, as that might lead to a significant correction after the good news is fully priced in.
3. Before that, we should still do some swing trading, for example, shorting the resistance at 75,000-76k several times. Yesterday, I shorted at 73.2k, as shown in the chart. Shuqin advised everyone to take profits at 73.8k and to go long again above the 73k support. Congratulations to those who went long — it looks like the rise is higher than expected.
4. Now that we’ve tested the 76k resistance several times, shorting again in the short term isn’t very stable. At most, build some long-term positions and hold them. I plan to short again near the next resistance at 78,000 and 79k, relying on the major resistance at the 80k level. I believe the chance of making gains again is quite high.
$BTC