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5.2 Saturday, Bitcoin’s morning outlook: go short first during the day
Today is the second day of the long holiday—wishing everyone a happy time and also the chance to make money happily.
Yesterday, the market warmed up again. Bitcoin kept rising slowly, topping out at around 789. A rebound pushed the “short seller” once more onto the forefront of the storm. Even though cutting losses was reluctant, being trapped was also uncomfortable—so at any time, don’t go against the trend, otherwise the one who suffers is only yourself.
For today, it’s strengthening again in the short term. However, the resistance at 795 above is still valid. The short-term upside has already extended, and there’s no sign of a one-way trend—so at this point, don’t think about chasing a direction. Currently, Bitcoin is at a high level; first, look for a pullback during the day.
Reference: go short around 785, with targets in the 775–765 area.