#比特币 Bitcoin achieved a series of continuous rises after midnight today, with prices bottoming out around $67,700 last night at 11 PM, followed by a consistent upward movement. By 7 AM today, it peaked at $72,700, achieving a total increase of $5,000. This process was very rapid, resulting in a quick conversion of long and short positions. This reversal trend has left many cryptocurrency enthusiasts feeling confused. Will there be a continued climb, or will the bear market persist? Here, the medal expresses its humble opinion.

First, we need to understand that the recent rise of Bitcoin after midnight was mainly due to the easing of US-Iran negotiations, which caused market cheers. Financially related assets saw a significant rebound, which is considered an emotional reaction. During the same period, crude oil prices fell from $116 last night at 11 PM to a low of $90 this morning at 7 AM. Looking at the movements before the easing, Bitcoin still belongs to a downward movement in the middle of a bear market; the main line of this bear market will not change due to any sudden events outside the cryptocurrency sphere. Furthermore, in detail, after 9 PM on April 5th, the price rose from the support level of $67,000, peaking just above $70,000. However, after midnight yesterday, it again took a selling downturn, with prices bottoming out at $67,700 before the reversal. This action indicates that the market's selling has not yet completed, with bulls being weak and unable to maintain the victorious long positions. There was no continuity in buying, and the enthusiasm for pushing prices higher was low. After a rapid rise in the market, prices still ended up falling. From the above performance, the medal believes that for this emotional surge in prices, we will likely see prices return to levels near the positions prior to the drop, continuing the bearish actions. The main factor is that before the rapid rise, prices were in a state of selling off after a brief increase, and any slight heat will be extinguished by the bears.

In summary, regarding the upcoming market trend, the judgment indicates that prices remain in a weak bullish situation, with a clear bearish trend and not much basis for a significant rise. Therefore, we can expect to see prices complete a sell-off drop after fluctuating at high levels. For this market expectation, it is recommended that everyone participates in short positions at high levels. Specifically, it is advised to engage in short positions in the range of 71,700-72,700, with a stop loss at 74,000 USD, and target expectations looking at 69,000 and 68,000 USD.$BTC 。