BTC on the short-term is still bullish; the rebound target is expected to move up toward 67,000.

Yesterday, around 64,000, I once again pointed out a low buy; the high already touched 65,770, and the pace was basically on point. Since the drop from 83,000, I’ve been closely watching the key level at 57,500. I anticipated that once the test reached that level, it would most likely trigger a sizable rebound. Therefore, I decisively bought the dip around 58,000 and held the long position all the way up to 65,500. Last week, around 65,000, I shorted and looked back to 62,800, then subsequently re-entered longs in batches at 62,800 and 64,000. Overall, both the bigger direction and the short-term timing have met expectations.

I believe the core of the analysis is not predicting every single K-line, but rather sorting out key levels in advance and how they might evolve. About half a month ago, 65,500 and 68,000 were already marked as two key nodes. The current market is still within a channel of high-level consolidation drifting upward, and it has also regained the 60-day moving average on the daily chart—bulls still have the upper hand.

Next, I hope price can continue to test higher toward 67,000, first to clear out the prior-high short liquidity. Once the liquidity above is consumed, then watch the 55,000–50,000 area below. If, in the future, price pulls back to test that range again, it will be a very worthwhile opportunity to focus on spot positioning. As for whether a reversal will happen directly after breaking 67,000, it’s still hard to say. But 68,000 is the most closely watched observation level—once that area shows a fake breakout and is accompanied by bearish signals on a smaller time frame, you can start considering mid-term short positions. Before the signals appear, there’s no need to guess the top in advance.

In the short term, price is still slowly climbing along the channel. While this pace isn’t aggressive, it’s actually more steady and robust. What truly needs vigilance is a sudden strong acceleration with a big bullish candle. Rapid rallies easily over-consume buying demand, and afterward it often comes with exhaustion.

At present, I remain bullish above 63,700, with focus on the 66,000–67,000 area. If you’re holding longs, you can continue to hold them and set up protection. If you’re currently in cash, watch for low-buy opportunities around 64,400. However, the closer you get to 67,000–68,000, the less you should blindly chase higher prices—this zone may gradually enter a stage of forming a top. The top won’t be built in one step; it will most likely repeatedly spike higher, consolidate, and eventually complete the final dip. Only then will be the right time to truly consider allocating a large position to spot. #夏日创作营