## Core Market Viewpoint



Currently, Bitcoin is in a triangle-converging consolidation pattern at the previous high level, with bulls and bears entering a critical stage of battle.

- **Bullish logic:** The negative news on the tape has basically run its course. The intraday market is tilted to the upside; if there is a breakout with increased volume above 64,000, it will open up upward room. The first target is 64,800, with an extreme target near 65,700.

- **Bearish logic:** Today is likely to form a phased local high point. Next week’s two important meetings bring a strong expectation of a pullback. After a late-night spike upward, it becomes an excellent opportunity to try topping out.

- **Intraday trading rhythm:** During the day, focus on going long on pullbacks; avoid chasing shorts. After the nighttime surge, reverse to attempt a top, and hold a position to contend with next week’s pullback.

- **Important risk reminder:** Closely monitor changes in trading volume. If there is a breakout above 64,000 with increased volume, immediately stop all short positions and wait to set up at higher levels.
BTC2.37%
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