Yesterday, Bitcoin was shorted at the 0.618 level, earning nearly a 1% decline. However, it was then hit by a rebound that directly triggered the stop-loss. In the early morning, a large number of traders moved to short on coin-margined contracts. At this point, it was actually time to exit — sometimes the signals are just that obvious.

Looking at the candlestick chart, Bitcoin has completely broken through the rising triangle resistance formed over the past two months. Where can it go from here? Honestly, no one can say for sure. Don’t just shout ten thousand if it rises, or look for five thousand if it falls — that’s meaningless.

The current situation is that BTC has already broken above the resistance zone of 938-944. If you want to go long next, the core strategy is to wait for it to retest this support zone — holding it would be an opportunity.

Specifically, you can set the stop-loss at 930, with a target around 973. This gives a risk-reward ratio of about 1:4, which is quite worthwhile. As for whether the blue area above can be touched, honestly, I’m not sure. We’ll see how it goes step by step. The most critical resistance now is at 973. If it’s broken, then the target of ten thousand becomes a real possibility.