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Currently watching $BTC , the price is around 71,300 USDT. Today it has already increased by +4.63%.
I'm not focusing on the ups and downs right now, but whether this level is worth engaging.
In the short term, I remain somewhat bearish. $BTC
At this level, I will first consider these points:
First, the divergence at high levels is starting to widen, making a short-term shakeout more likely.
Second, this rally seems more like an emotional surge, and the follow-through hasn't caught up yet.
Additionally, the price is close to the resistance zone, and the upside potential and risk-reward ratio are moderate.
For this kind of level, I usually follow this approach:
Top-level sell-off with waterfall short / Rebound with false breakout then second waterfall short / Break support and chase the short.
Suggested entry price: 71,871 USDT
Initial target: 67,593 USDT
Support reference: 73,582 USDT
Signals indicating a wrong read: 5m reclaims resistance / 15m reclaims the sweep high
Risk-reward ratio reference: 2.50R
Understand before acting; it's more important than just going in blindly.