$BTC BTC｜After a strong pull-up, it pulls back—be wary of the “last dance”

Bitcoin’s performance yesterday was clearly stronger than Ethereum’s. It rose sharply and then pulled back, which has already been reflected in the intraday perspective. The highest point precisely hit around 79,500, which is a key level we are focusing on.

Upper resistance: Whether it can effectively stand above 78,000 in the short term can serve as a dividing line between strength and weakness.

Lower support: The major support of the channel is around 76,000; in the short term, look first at around 77,000 (cautious, with defense), with the main support focused on 76,000.

If the hourly chart fails to close below 76,000, there is still the possibility of continued upward movement. However, I personally have always insisted on the long-term view that 60,000 is not the bottom. The main approach is to buy on pullbacks in batches and take shorts in stages; the liquidation level suggestion should be placed reasonably and conservatively above 85,000.

It’s worth noting that the support from the rising channel trendline has been verified multiple times. Going long near this area requires even more caution.

Off-topic: Yesterday’s rally in Bitcoin gave a “topping” feeling— it seems the main force has withdrawn funds from Ethereum and concentrated on pushing up Bitcoin, which has a distinct “last dance” vibe#以太坊Meme季卷土重来