$BTC Review of today's trading situation, in fact, there isn't much worth in-depth analysis, as mainly some small-cap cryptocurrencies are performing actively in the market. As for mainstream currencies, they may reach levels suitable for shorting by tonight. However, today we are primarily focused on tomorrow's market movements, so the review ends here.
Regarding tomorrow, which is Monday's market trend, is it bullish or bearish? We have been observing at this high price level for a few days. For short-term traders, it may already be a bit late, but for medium to long-term traders, the target price is not considered early. Currently, the bearish stance is very clear. The market on Monday may first attempt to break through the $70,000 mark, then retreat. The ideal scenario is for the market to first drop to $67,000, then rebound to $67,500 on Tuesday, and later fall back to between $65,000 and $66,000. If the market follows this script, it would be perfect.
As for investors holding short positions, should they consider closing their positions? Since we have reached this price level, there is no need to rush to close positions. The upside space is only about 2%, while the downside space exceeds 10%. For Bitcoin, the resistance levels tonight are between $68,500, $69,000, and $69,500 to $70,000, which are important resistance levels for both the short and long term. For bearish investors, these levels must not be breached. The support levels below are at $68,000, $67,500, $66,800, and $66,100. There is strong support in the range of $65,000 to $66,000. If the script is correct, it is expected to reach this price level before next Friday.