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Midday Market Analysis: #YunXiang Finance
Gold has crashed hard, and the community has been consistently recommending shorting. Short positions at 5200/5000 have reached 4500, silver shorts at 96/98 have reached around 75, and BTC shorts at 74/75 have reached 69. Congratulations to everyone who got on board. BTC stopped declining near 68000 last night, and the current price is around 70500. In the short term, 72000 forms resistance, and if it's not broken, the trend will remain bearish.
Coinbase has ended its premium trend, and it appears institutional demand has declined. However, more positive catalysts are awaiting Bitcoin, but the prerequisite is waiting for the war to end.
If Bitcoin can quickly recover to around the 74000 level on the daily timeframe, the upside space will open up. Otherwise, it will continue with weak consolidation and may even continue testing support levels downward.