Don’t get carried away after BTC breaks $70k: The rocket has already launched, but the ticket is getting more expensive

BTC surged back to around $70k, with its intraday gain briefly exceeding 8%, while ETH climbed above $2,300, up nearly 18%. This rally came quite suddenly: just as the bears were preparing to continue telling the bear-market story, the market tore up the script. The latest market data shows that this rally was accompanied by large-scale short liquidations, with more than $1 billion in BTC short positions liquidated within a single hour on August 19.
So the hardest question now isn’t “Will it rise?” but “After rising this much, can we still chase it?”
My answer is: Don’t chase the first big green candle; wait for a pullback and confirmation.
Why? Because breaking above $70k and holding above $70k are two completely different things. The market has just gone through a rapid rally, fueled by both genuine buying and forced short covering. When these two forces combine, it’s like suddenly adding three spoonfuls of chili to a hot pot—it looks especially lively, but that doesn’t mean the broth will stay this spicy forever.
If I were making a trading plan, I would divide BTC into three zones for observation. First, the area around $70k is the key level to watch. If the price holds steady on a pullback after the breakout, I would regard it as a confirmation of strength. Second, if a normal correction occurs, I would rather wait for lower-risk opportunities around $67k–$69k than chase the candlesticks above $70k. Third, if the price falls back below $65k with rising volume, the short-term bullish thesis needs to be reassessed.
For taking profits, I wouldn’t immediately fantasize about $100k, but would consider realizing gains in batches. For example, if the price continues strengthening after the breakout, I could lock in part of the profits around $73k–$75k, then decide whether to continue holding based on the price-volume relationship.
Stop-losses must be set in advance. Going long isn’t a test of faith, nor is it about becoming sworn brothers with BTC. Once key support is lost, discipline should be followed.
ETH is even more exciting. An 18% gain means greater upside elasticity, but it also means the pullback could be more severe. It is better suited to waiting until BTC stabilizes before looking for catch-up opportunities.
So my strategy is simple: Don’t chase BTC’s first leg up; wait for a pullback. Don’t rush into the hottest ETH levels; wait for confirmation. Don’t bet on a reversal to the short side unless the breakout fails and clear weakness emerges.
This rally may really mark a change in the market, but truly smart traders aren’t the ones who run fastest—they’re the ones who know when to fasten their seat belts.#BTCETH反弹交易思路 .