On Tuesday morning, avoid chasing after sharp declines, look for a rebound within the day

Recently, Bitcoin's trend has remained volatile with wide fluctuations. After bottoming out around 65,000 last week, it formed a reversal. When reaching a high near 70,300 in Beijing, it faced resistance and pulled back. Currently, it is trading around 68,500. Yesterday's outlook was bullish at 68,500 with a target of 70,000, and the market's movement ultimately confirmed our bullish view. Both long and bullish positions have room to grow.

In terms of the current pace, although there is some short-term pullback, the continuation is not strong. It has not broken below the recent upward point since yesterday. On a small cycle, it is still moving in a sideways upward trend. The rebound on the daily chart has not been affected by the brief pullback and remains in a bottoming and recovering pattern. Currently, the resistance above is still around 72,000. If you don't chase the rabbit, you won't lose the eagle.

Tuesday morning, it is recommended to buy long at 68,300-67,500 for Bitcoin, with targets around 70,000-72,000.