Weekend Bitcoin Price and Trading Strategy

Yesterday's market successfully broke through the important resistance level of 76,000. The daily chart continued its upward trend, reaching the MA120 level, and today's opening price also closed above the moving average. Currently, it has retraced nearly 3,000 points, selling pressure is weakening, short-term indicators have recovered, and the higher the price rises, the higher the cost basis for short positions, indicating a very strong consensus on shorting in the market, with the vast majority being retail investors. As the saying goes, "as long as the bears are not defeated, the bulls will not die." Therefore, it is believed that the bulls will still have room to rise, at least to the 79-80,000 range before a significant drop occurs. This range also represents multiple resistance levels, and its first appearance should not be missed. Today's short-term market continues to retrace, digesting trapped positions through a slow decline or sideways movement. It is advisable to wait patiently for the retracement to support levels to buy. The key support level to watch is around 73,600. Consider buying around 76,000-75,500 and 74,700.