#BTCTrend Analysis#NewCoin Mining#SpotEthereum ETF was approved by the US SEC
🧚♀️Bitcoin breaks through the 70,000 round number mark. Follow me😎 for more information
It is indeed an important psychological and technical sign, but the next pressure interval point will be the focus of attention.
Here are some specific observations and strategic suggestions:
1. **Technical Analysis**:
- **Pressure Range**: 71500-72300 points is an important pressure range in the near future. Historically, these areas usually experience large selling pressure, so Bitcoin may encounter resistance in this area in the short term.
- **Support Level**: If Bitcoin encounters resistance and pullback in this range, it is necessary to observe the support strength of 70,000 points, which is an important psychological level that bulls need to hold on to.
2. **Market Sentiment**:
- **Strong bullish power**: The current market bullish power is strong, and the breakthrough of 70,000 points shows that investors are full of confidence. However, too rapid a rise may also lead to profit-taking in the short term.
- **Calibration Risk**: When encountering important pressure levels, the market may undergo a correction, so it is necessary to pay close attention to changes in trading volume and market sentiment.
3. **Strategic Suggestions**:
- **Observe the Breakout**: If Bitcoin can effectively break through and stand above the 71500-72300 range, it may open up further upside space.
- **Risk Management**: When approaching the pressure range, it is recommended to set a stop loss point to prevent sudden large fluctuations in the market.
- **Operation in batches**: Consider opening or exiting positions in batches to reduce risks caused by market fluctuations.
In short, Bitcoin's current upward momentum is strong, but before the key pressure range, it is still necessary to deal with it cautiously, pay close attention to market dynamics, do a good job in risk management, and wait for clearer breakthrough signals before making further operations. I hope your investment will steadily increase in value.
P.S The picture was taken at the Lantau Cable Car in Hong Kong
