Yesterday we warned of the risk at the high of 71,000. 71,000 is the resistance position near the previous high, and the market is driven by Ethereum. It is very difficult to directly break through the new high. Today, it started to pull back, which is in line with our expectations.

First, let’s review yesterday’s BTC operation. It was a very simple breakthrough idea. After stabilizing at 67,300, continue to chase the long position. Influenced by the news of Ethereum ETF, the market took off across the board, with the highest intraday impact reaching around 72,000, and the profit was close to 5,000 points. Did you follow it? This is the charm of breakthrough. Above the key position, the sky is the limit.

The current market hype is only the approval of the Ethereum spot ETF. The probability of approval has increased from 25% to 75%. This amount of funds within the day is not something that retail investors can take on. The main bulls, including institutions, have entered the market. These people will not easily leave the market unless there is certain news. Just like the previous Bitcoin ETF, the market started to warm up before passing. This time is the same. There is a high probability that it will be approved.

Back to the trend of Bitcoin itself, it is currently running near 71,000, near the previous high. There is a certain resistance at the current position. There is no FOMO at a high level. Wait for the market to calm down, step on a key point and then attack the next key point. The market is rising rapidly, and the risk is also increasing. At the current position, long orders must be reduced to protect, and wait for the formation of shocks or continued upward breakthroughs before considering entering the market.

If there is no position here, it is recommended to wait and see. It has come to the risk area and is prone to ups and downs. Low-level chips continue to be held. Pay attention to whether the daily level can close at 71,000 in the future. Above, close above before continuing to consider buying