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76k! Is Bitcoin at its peak? Where can we rebound? Hurry and take a look.
1. First, let's talk about why it’s falling. Currently, Bitcoin's recent correction has touched the highest point of this three-month consolidation zone: 76k. When the price reaches near the previous high and starts to pull back, it’s completely normal. So, after the correction, can we make a rebound?
2. I think it’s worth trying, but we should rebound at a stronger support level. Currently, Bitcoin’s strong support is above 72.7k. I will definitely add more positions near here, as catching a rebound of over a thousand points has a very high chance of success.
3. Next, the second question: Is 76k the top for Bitcoin?
There’s a possibility, but based on how the recent tops have played out this year, there’s often a false breakout above the previous high, like reaching 78k, tempting the bulls to break through and chase higher, only to be fully cut off later, fueling the decline. This scenario is more likely. Of course, the strong resistance around 76k is also a good target.
4. So, the strategy here is to take two steps, as shown in the chart. I suggest everyone short at both major resistance levels of 75k and 78k. If adults don’t make a choice, I will take both! When the price approaches the 76k resistance and pulls back to over 73k, I’ll first take advantage of the double top correction. I mentioned this in yesterday’s post, preparing to go short.
5. Currently, I will take partial profits on my short at 75,000. If there’s a rebound, we can consider shorting again. Trump often surprises us. But for long positions, I prefer to be more cautious because 74k is not low. If it pulls back to the larger support zone around 72,700–73k, I will consider adding one more long.
6. So, our operations are not random. Even if there’s good news from US-Iran talks, we won’t chase longs if the price has risen too much. I emphasized yesterday that to go long, the price must be suitable before entering. And last night, near the resistance at 76,000, we confidently caught a good pullback. Seizing opportunities every day is the way to go! $BTC #Gate广场四月发帖挑战