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Bitcoin repeatedly attempted to break through 68,000 but was met with resistance and pulled back. The current market remains in a state of extreme fear, oversold rebound phase. After short-term fluctuations up and down, it recovers but still remains within a wide range of oscillation.
This is a technical correction rather than a trend reversal.
Although neutral moving averages are below the 50 and 200-day moving averages, indicating a bearish trend,
the overall structure on the hourly level has broken through the downtrend line.
RSI has risen above 50, indicating short-term momentum is strengthening.
Until the range is broken, consider short-term buy low, sell high strategies.
Around 67,000 with a light position for short-term longs, watch for around 68,500. If facing resistance, consider shorting, but be sure to manage risk carefully.