Evening Market Analysis: Let's review the afternoon's price action. After oscillating near 70,400, BTC probed up to around 71,300 but encountered resistance and began declining again. Currently, the price has returned to around 70,600. Following our midday operational suggestions, we successfully caught a short position near 71,000, capturing 800 points of profit.
From a technical perspective, this afternoon's high of 71,300 has become a key short-term resistance level, which coincides with the 4-hour Bollinger Band upper band and the lower edge of the previous oscillation platform. The price encountered resistance at this level and declined, forming a clear "double top" pattern, indicating that bullish momentum is exhausted while bearish defense remains strong.
Evening Trading Recommendation: Short BTC near 71,000, targeting around 69,500. #Gate13周年全球庆典
Evening Market Analysis: Let's review the afternoon's price action. After oscillating near 70,400, BTC probed up to around 71,300 but encountered resistance and began declining again. Currently, the price has returned to around 70,600. Following our midday operational suggestions, we successfully caught a short position near 71,000, capturing 800 points of profit.
From a technical perspective, this afternoon's high of 71,300 has become a key short-term resistance level, which coincides with the 4-hour Bollinger Band upper band and the lower edge of the previous oscillation platform. The price encountered resistance at this level and declined, forming a clear "double top" pattern, indicating that bullish momentum is exhausted while bearish defense remains strong.
Evening Trading Recommendation: Short BTC near 71,000, targeting around 69,500. #Gate13周年全球庆典