Post
Is BTC 70,000 a false breakout? The main force is slowly closing the net at a high level.
1. First give the core conclusion (position is very important)
February 10 | BTC current price 70,113
This is the 'end of the rebound after a high-level fluctuation', more like a trap for the bulls, rather than a new round of major rise.
Short selling strategy: only enter after the rebound fails, do not chase, do not rush.
2. Four-hour chart: the structure has not reversed, just a high-level breather
Key signal on the four-hour level
1️⃣ The overall trend is still in the recovery zone after a decline
Previously dropped quickly from 76k to 59.8k
Current rebound has not reclaimed key moving averages (MA30 / MA60)
The moving averages are still overall bearish
Without reclaiming the trend level, there is no talk of a bullish return.
February 10 | BTC current price 70,113
This is the 'end of the rebound after a high-level fluctuation', more like a trap for the bulls, rather than a new round of major rise.
Short selling strategy: only enter after the rebound fails, do not chase, do not rush.
2. Four-hour chart: the structure has not reversed, just a high-level breather
Key signal on the four-hour level
1️⃣ The overall trend is still in the recovery zone after a decline
Previously dropped quickly from 76k to 59.8k
Current rebound has not reclaimed key moving averages (MA30 / MA60)
The moving averages are still overall bearish
Without reclaiming the trend level, there is no talk of a bullish return.
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BTC
66,573.16
-1.63%