The person riding at the back does not need to master direction; even with closed eyes, they will not lose their way. We run forward madly and then suddenly change direction; some only see my analysis but cannot touch my keen insight into the market. Those standing outside will never know the beauty inside the room. It does not matter which direction we are in; what matters is which direction we are moving towards.

Recently, Bitcoin has shown a fluctuating upward trend, with each surge accompanied by a certain degree of pullback. Yesterday, the price of Bitcoin tested above 79500 but could not break through, instead facing pressure and retreating. The market is still in a tug of war. Do not blindly chase the rise and fall.

Observing the daily chart, prices have established an ascending channel. The overall trend is bullish, but after the rise, is there a pullback? Currently, the daily chart is testing resistance, forming a bearish candle, and MACD is beginning to shrink, showing signs of a continued bearish retreat. Therefore, today we may look for short positions on rebounds.

Look for short positions around the 77500-78000 area on rebounds, targeting near 75500, and if it breaks down, aim for 74800.

Follow the public account, what can resolve worries, only Jiang Wei, a treasure analysis blogger with high emotional value. Trading lessons are shared for free, bringing stability and clear guidance in the restless trading market, navigating through three rounds of bull and bear markets with years of practical trading experience, specializing in naked K, trend analysis, Dow Theory, Gann, harmonic analysis, and Chan theory, combining them into unique insights.

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