The recent market action has indeed been particularly grueling. Yesterday finally brought some movement. Whether you are bullish or bearish, you need to face reality: the 65,500–67,000 area for Bitcoin has extremely strong resistance, and repeated attempts to test it have failed to establish a firm foothold.
My view is very clear: you can be bullish and go long, but before the resistance is truly broken, do not blindly chase the rise, as you could easily get trapped. Although the four-hour chart closed with a bullish candle, it cannot change the current situation of bears having the upper hand. The daily K-line middle and upper bands are both moving downward, so the overall trend remains bearish.
The market often surges into a resistance zone, then moves sideways for several days before pulling back. Those who chase the rise will be put in a passive position. Likewise, do not blindly chase shorts after a pullback, as a sideways rebound could trap short chasers. In the short term, focus on selling into strength, control your position size, and participate in batches. Do not make a heavy one-shot bet on the outcome.
Trading suggestion: Above, focus on the resistance levels at 64,800, 65,800, and the previous high at 66,800. Build short positions in batches around these levels.
Below, watch the support levels at 63,500, 62,500, and 60,500 in sequence. In a ranging market, avoid entering with a heavy position all at once; build positions in batches while closely monitoring the support below. If support breaks, respond promptly.
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