Wednesday Morning Bitcoin Trading Strategy

Overnight market movements showed clear divergence, with the Asian and European sessions generally subdued. After the US stock market opened, volatility rapidly increased, with prices surging to around 76,200 before encountering strong selling pressure, then retreating to about 73,900. The overall trend closely aligns with yesterday’s high-altitude bullish outlook.

Structurally, the 76,200 zone has formed a clear double-top resistance. Without a volume-driven breakout and stabilization above this level, bulls will find it difficult to open upward space. The daily candle closed with a long upper shadow, indicating heavy resistance at high levels, with upward momentum weakening; the four-hour rally failed to continue, showing short-term stagnation, and the rebound strength is gradually diminishing.

Overall, the current trend leans toward high-level consolidation with a bearish bias. It’s not advisable to chase long positions; focus on shorting during rebounds.

Intraday reference: Gradually establish short positions in the 74,800–75,300 range, with downside targets at 73,200–71,800 in case of pullbacks.