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Bitcoin and Altcoin Evening Analysis
Yesterday, the US stock market surged significantly, pushing Bitcoin from 60,000 to 69,000. It looked like a strong rally, but in reality, our bears were just passively taking hits with no chance to enter.
But don’t panic. After the rise, there’s no strength to continue pushing higher. Instead, it’s starting to pull back, and the recovery effort is weak. Now it’s stuck at a high level, unable to break through or fall back.
On the four-hour chart, after the surge, there’s no volume or moving average support. The short-term rebound is constantly suppressed, just a high-level consolidation, not a real upward move.
Trading Suggestions
Bitcoin: Short at 68,700–69,500, target 67,400. If it breaks below, look for 66,000.
Altcoins: Short at 2,140–2,180, target 2,060. If it breaks below, look for 2,000.