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Saturday, the decline touched the critical support level, with intraday high and low trading
Affected by yesterday's non-farm payroll data, Bitcoin broke below the 70,000 level, with a daily decline of 4.16%. Our long positions were replenished this morning and are still being held. If an opportunity arises today, we will consider taking profits to break even first. Weekend volatility is unlikely to be significant.
We are now at a critical stage. The daily chart shows a pullback that has reached the mid-line support. Holding this support means a return above 70,000; breaking below would lead to testing the previous low. At that point, our long strategy will be stopped out and exited. I expect this rebound to attempt to push to 78,000 before facing resistance, then re-entering a long-term short position.
Buy Bitcoin at 67,700-68,000, initially targeting 69,500. If it doesn't break 70,000, consider a short-term reversal to short. For Ethereum, follow the same logic: buy at 1960-1980, with a target of 2050. If it doesn't break 2080, consider a short-term reversal to short.