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The news about the peace talks has driven Bitcoin's rise. How should we respond next? Let's take a look at my perspective.
1. The price has now again returned to 78k and broken through the recent high. Strangely, this rally isn't as strong as the previous price increase.
2. By paying attention to the MACD, you can see that the peak hasn't broken the previous high, including RSI. At 78k, if you're not shorting, are you going to wait until the price drops to 70k to short?
3. As shown in the chart, the daily line structure also looks bearish from a naked K-line perspective. Bitcoin's price has fallen from the bull market high of 126k down to 80k, then rallied to form a falling flag pattern with a high of 98k. This level was also our previous take-profit point for long positions.
4. Looking back, the current price from 98k to 60k and now at 78k has also formed a falling flag pattern. Each bottoming rebound has been roughly the same magnitude.
5. Based on the above, I believe this recent high is likely around 78,000 at most. Therefore, there's no problem in shorting between 78,000 and 80k. Prepare to use five times leverage with 40% of your position, and leave the rest to time... $BTC