Market Viewpoint

Rebounded after reaching the 74 range, staying above 76 is a condition for further rise
On Monday this week, we pointed out the possibility of Bitcoin $BTC experiencing a false break below 76 and then bouncing back, and indeed, on Tuesday evening, it broke below 76 and then V-shaped recovered.
At the 2340 range, I took half of my profit on the $ETH long position (cost 2273, see channel chart) and broke even; this is a trade I shared in the member group.
After taking profit on ETH at 2340, the market did not rise directly but instead fell again below 76, with a low spike to the 74900 range.
However, what disappointed most bears was that the drop to 74900 was just a spike; the market has now returned above 76, which can still be seen as a "false break below 76 and then V-shaped recovery" scenario.
On the 4H timeframe, last night’s pullback just touched Vegas. I mentioned that if 75600 cannot hold, the support below is at the 4H Vegas 74 range, with the spike just touching Vegas.
Therefore, the theory of a false break below 76 and then recovery still holds. On the other hand, it can also be viewed as support at the Vegas below after the break (despite not fully retracing to near 74000).
For me, the gap between 79600 and 81100 is objectively attractive, and I remain bullish up to 81100.
Trading mainly involves buying on dips; at least until the gap is filled, I won’t short.
Regarding specific trades (viewpoints for reference, but not identical), especially in futures trading, profit-taking in a bear market environment needs to be more cautious, so yesterday during the Asian session at 2340, I took half of my ETH profit, with the remaining part at a loss.
Since BTC slept early last night, I didn’t catch the move, and I currently hold no futures positions.
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