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Evening Analysis
Bitcoin has experienced a significant pullback previously and has now recharged for another push higher. Selling pressure has relatively decreased; however, the previous high of 74,000 remains a considerable resistance level, and a breakout won't be that easy! Short positions can be placed around 74,500-74,000.
Bitcoin's current uptrend remains very strong. If shorting, we need to wait for this uptrend to consolidate!
Based on current price action, this appears to be a "bullish pennant" breakout pattern, and the resistance above is quite significant with strong suppression.
Therefore, it's recommended to place short positions in the upper range around 74,500-73,500! This is the result of analyzing current price action. Market conditions can change at any time, and I will continue to follow my layout strategy accordingly!
Trading Suggestions
Bitcoin around 73,200 - Target around 71,000
Ethereum around 2,150 - Target around 2,080