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3.5 Thursday Morning Bitcoin Analysis
The market is constantly changing. Bitcoin has reversed its downward trend overnight, with a strong rally that reached a high of 74,000. Short-term bullish momentum is strong.
After a series of consecutive bullish candles on the 4-hour chart, the price faced resistance and pulled back from high levels. The daily Bollinger Bands are opening upward, and indicators are showing a bullish alignment, but the price has already gained 6,500 points. Do not blindly chase long positions at high levels.
Morning Trading Strategy: Short first, then long; buy on dips
Bitcoin: Short around 73,200, target: 71,500-70,000