Bitcoin rebounded from 59,000 to 64,000—there’s also about 5,000 points of room left. This week’s main highlight is still Wednesday’s CPI. On Thursday, it’s the unemployment benefits and PPI data, and on Friday there’s the World Cup as well as SpaceX listing. So the second half of the week is where the real action is.

Now, about today’s market: the opening price at 8 a.m. was around 63,300. It has currently rebounded to the highest point of just under 64,200, leaving less than 1,000 points of room. The downside retracement’s lowest point was at 62,400, a drop of 900 points. Going forward, we still see resistance at 64,500 above, and support at 62,500 below. For now, Lao An’s approach is still mainly to short on rebounds.

The current market is stuck in a small-range consolidation, so we can only “ride the donkey and look for the horse.” Use a defensive strategy and take-profit approach—don’t hold out on single positions, and don’t chase pumps or sell-offs.