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5.7 Midday Market Thoughts
After a sharp rise, there must be volatility; hidden within the trend is a game of strategy.
Only by holding steady through the fluctuations can one grasp the trend.
Yesterday, Bitcoin experienced a shocking reversal, surging strongly, sweeping away the previous downturn, unstoppable like a breaking wave, completely breaking the prolonged consolidation pattern.
Today, the market slightly pushed higher but faced resistance, with high-level oscillations, and the battle between bulls and bears became increasingly intense.
Profit-taking after the previous large increase concentrated, and the price entered a digestion and rest phase.
This morning, the market remained in a state of oscillation and consolidation, with the price repeatedly swinging between 80,000 and 82,000, as bulls and bears temporarily balanced.
At midday, it reached the day's low of 80,675, then rebounded, currently trading around 81,200.
Short-term profit-taking and chasing buying pressure are competing, and the market is waiting for new catalysts.
Bitcoin trading strategy: Buy near 80,800-80,300, target up to 82,300
Altcoin trading strategy: Buy near 2,330-2,310, target up to 2,380