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Big retracement builds momentum—bullish trend unchanged
After yesterday early morning’s high of 82,098, Bitcoin has pulled back to 79,801 and is currently trading in a range around 80,400. This drop is not a trend reversal, but a technical correction of the prior upward move.
Don’t be scared off by short-term bearish candles. This pullback looks more like a “refueling” action during an uptrend. Although the candlestick closed bearish, the volume has not continued to expand, indicating this is a natural retracement caused by profit-taking rather than panic selling. After the bearish momentum is released, the market enters a low-level consolidation and buildup phase.
Go long directly around 80,000. The first target is 82,500; if it breaks through, look for 83,500.
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