Bitcoin is about to attack the Bright Summit! Will it break through 76k and surge? Come and take a look.
1. Just this week, Bitcoin has already broken through 75k for the fourth time, and it's also the second time aiming for the previous high of 76k. The bullish momentum is strong, mainly driven by the US-Iran talks. As long as the negotiations are not completed, the market is continuously expecting this positive news. So, how should we operate now?
2. To start with the conclusion: I think the final top might be around 78,000/79k, because every time Bitcoin drops, there’s usually a false breakout beforehand, so there’s no reason this time wouldn’t be the same. Of course, if you prefer a safer approach, you can wait until the US-Iran ceasefire is underway before shorting, as the good news might be exhausted and lead to a significant pullback.
3. Before that, we still focus on swing trading. For example, the resistance at 75,000-76k has been shorted several times. Yesterday, I shorted at 73.2k, as shown in the chart. Shuqin advised everyone to take profits at 73.8k and to go long again above the 73k support. Congratulations to those who went long — it looks like the rise is higher than expected.
4. Now that we’ve already tested the 76k resistance several times, shorting again in the short term isn’t very stable. At most, I plan to build some long-term positions and hold them. I also intend to short again near the next resistance at 78,000 and 79k, relying on the big resistance at the 80k mark. I believe the chance of making gains again is quite high.
5. Besides that, Shuqin has been advising everyone to prepare for the Trump coin that’s been lurking for days. It finally moved today with a 10% surge — very impressive. I think this coin will stay hot until the dinner on the 25th. As for other coins, we will keep an eye on the market in real-time, post daily trading levels, and at key points, we can go long or short as needed.
