In market trading, taking profits is what counts. No matter how good unrealized gains look, they are only paper profits; gains locked in by closing a position are the real results of trading. Bitcoin has continued to drift lower this cycle, and our market outlook has been clear from the start: we have consistently maintained a bearish view. Xuheng entered a short position at 73600 in a live trade and closed it for a take-profit at 72752, capturing 848 points of market movement! As this wave fell to a local low, many of you may have followed the move and secured profits by taking them in stages.
The current price has pulled back to the previous low area. Pay close attention to whether a double-bottom support structure can form here. Even if the chart stages a short-term rebound, our core view remains unchanged. If support comes under pressure and breaks, the downtrend will continue; only if support holds firmly will there be an opportunity for a bullish rebound. In the market, the key to long-term survival is to assess conditions, switch flexibly between long and short positions, and strictly follow risk-management rules.
Trading suggestion: Continue lower toward the 71100 target; if it breaks, look to 70000$BTC
The current price has pulled back to the previous low area. Pay close attention to whether a double-bottom support structure can form here. Even if the chart stages a short-term rebound, our core view remains unchanged. If support comes under pressure and breaks, the downtrend will continue; only if support holds firmly will there be an opportunity for a bullish rebound. In the market, the key to long-term survival is to assess conditions, switch flexibly between long and short positions, and strictly follow risk-management rules.
Trading suggestion: Continue lower toward the 71100 target; if it breaks, look to 70000$BTC
