The market is still oscillating while raising its center of gravity, and the pace is biased toward slow upward movement. On the surface, the rally doesn’t look very strong, but what’s most tormenting is the bears—because it can’t fully fall, and the rebound keeps inching up expectations.

The current structure hasn’t broken out into a true one-way move; instead, the lows keep rising, and the highs are also probing the upper boundary. The essence of this kind of trend is to trade time for space. For the short side, the hardest part isn’t being blown up in an instant, but repeatedly being given hope while your patience and positions are slowly worn down.

In terms of execution, still prioritize going short at higher levels. Don’t chase a long around 78000. Chasing in at this spot has very low cost-effectiveness. Place the stop-loss above 79000, and first look for a pullback to the 76500-76000 area.
$BTC ‌#比特币反弹