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Bitcoin is currently in a strong bullish trend, with a volume surge on Thursday, reaching up to $74,000 in the early hours. The current price remains around $72,600, with an intraday increase of over 5%.
The Middle East situation is chaotic, but Bitcoin's counter-trend rally indicates market sentiment is warming up. Staying below $70,000 for too long often results in short-term rebounds in a bear market, and this wave has good continuation potential.
Although the probability of a rate cut in March is low, markets tend to buy the expectation and sell the reality. We've seen this pattern of rising first and falling later several times before. In the short term, avoid rushing to short; following the trend and going long is more stable.
The intraday strategy is to buy on dips. Consider placing buy orders around 72,300 to 72,800.
Set stop-loss below 71,800 to 72,000; if broken, turn cautious and observe the weakening trend.
Initial target is 75,500, a recent resistance level. A volume breakout could lead to higher targets above 76,000.
In one sentence: Bulls are dominant. Continue to follow the trend and go long, buy low around 72,300 to 72,800, target 75,500, with a stop-loss below 72,000. Be patient and hold this rebound. After the rate cut is confirmed, consider switching to a short position. This morning, keep an eye on volume and resistance at 74k—avoid chasing highs.