$BTC Weak rebound, beware of pullback, short on rallies
BTC is on its fourth day of rebound but has failed to break through the 72,000 resistance level. The highs have been declining progressively, and the 4H chart has formed a converging triangle pattern. The market remains within the daily-level consolidation range. If it cannot break through 72,000 for an extended period, it will inevitably seek support lower. Strategy: Take profits on long positions at lower levels, bearish traders should short on rallies.
$BTC Weak rebound, beware of pullback, short on rallies
BTC is on its fourth day of rebound but has failed to break through the 72,000 resistance level. The highs have been declining progressively, and the 4H chart has formed a converging triangle pattern. The market remains within the daily-level consolidation range. If it cannot break through 72,000 for an extended period, it will inevitably seek support lower.
Strategy: Take profits on long positions at lower levels, bearish traders should short on rallies.