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Bitcoin's short-term bearish pattern remains unchanged, with the overall trend biased downward. Yesterday's price action oscillated repeatedly throughout the day, with bulls and bears taking turns sweeping and shaking out positions. While the fluctuations appear minor on the surface, they actually harbor extremely strong destructive force.
This grinding market condition essentially harvests traders with impatient sentiment and those who chase highs and sell lows. The messier the market, the calmer you need to be. Remember not to blindly chase higher entries, not to repeatedly go all-in on speculation, and not to be deceived by minor rebounds. Each weak rebound is a quality opportunity to position short orders.
In terms of execution, stick to light positions following the trend, enforce strict risk management, and maintain discipline. Only by keeping rhythm steady can you safely navigate through the oscillation cycle and await the arrival of true directional movement.
Operational suggestions: Aggressive entry - short at current price 70284, Conservative entry - short around 70600-71200, Downside target - around 68000-67200, if breaks below 65500, if not broken follow the trend accordingly.
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