Reviewing the intraday market, the price has been oscillating around 6.65 with continuous pulls. Tonight, the bulls launched a strong push to drive the price higher, with the current high breaking above 70,000. The intraday trading captured two precise rebounds from the highs, with real trading shorts gaining over 2,000 points of profit while perfectly avoiding the sharp rise during the US session. Some friends asked me why I didn't lead students to seize this big move tonight. Due to the recent sharp fluctuations, risk-reward assessments before each real entry are always prioritized. Missing opportunities is better than making mistakes; wrong directions are a waste of effort. Avoid unnecessary risks and accurately grasp the swings to establish a solid footing in the turbulent crypto market.

Looking at the 4-hour chart, after prolonged sideways consolidation around the midline, the price has formed three consecutive bullish candles with a rapid surge. A large bullish candle pushed the price quickly above the upper band, creating strong overbought conditions and surpassing recent highs. The price is trending towards breaking out of the triangle range. Combined with monthly and weekly charts, the larger timeframe suggests a potential strong rebound from the bottom. However, in the short term, the rapid upward move and overbought conditions indicate a need for a correction and recovery.

On the short-term hourly chart, the price has formed three bullish candles with a quick rise. The Bollinger Bands are expanding rapidly upward. However, the long upper shadows on the candles above 70,000 indicate clear resistance. If the price cannot effectively break through and stabilize above this level, it’s prudent to maintain a bearish outlook for now. The short-term strategy remains to short high rebounds.

For Bitcoin, short around 69,800, watch for 98,000. For altcoins, short around 2,080, watch for 1,950.