Bitcoin Surges Higher, Where Will This Rebound End?

The current market trend is now very clear, Bitcoin is in the ninth uptrend within the central axis, the pattern hasn't changed and the trend hasn't changed! I've been consistently mentioning recently that as long as the key support zone at 68000 below the triangle area doesn't break, all operations in the near term should focus on long positions at lower levels. Currently, the daily uptrend volume is releasing very powerfully and continuing, this slow uptrend is a healthy gradual rise pattern, and market sentiment is easing while spot ETF inflows continue. Subsequent breakthroughs only need a catalyst, and this rebound's peak resistance level remains at 79000, previous Chan Theory analysis I posted can be reviewed.

Looking at today's market action, Bitcoin provided decent upward momentum intraday, and there should be quite a few people shorting around the 71-72 level. Even I (Honghen) couldn't resist going short around 715, with the lowest point touching 70920 but I didn't choose to exit, ultimately hitting my stop loss at 72000! Brothers, for shorting recently, make sure to set proper stop losses, define wins by losses, and avoid subsequent liquidation traps that are difficult to operate out of.

Returning to subsequent market analysis, for short-term traders, I don't recommend chasing the highs directly. At this point, we just need to sit in cash and wait for the daily third buy structure to appear before deploying long positions, there are plenty of opportunities to go long, no need to rush to define them. The market and opportunities are won by waiting! If there's subsequent pullback without breaking the central axis, then when the standard daily third buy structure appears, the bullish momentum will be very strong! For friends wanting to short, I personally will deploy short positions around the previous high of 73800, with stop loss set at 74800. Remember, before this 9-wave central axis uptrend structure is complete, short positions should exit with profits in time! #BTC #Gate广场AI测评官 $BTC