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4.6 Bitcoin Public Outlook
After a strong rally in the early stage followed by a pullback, the bullish momentum has temporarily weakened. Currently, it is in a correction phase after an upward move. The middle band of the Bollinger Bands is the key support and resistance level: if it stabilizes, expect a secondary rebound; if it breaks below, look for a bearish trend. Conservative traders should wait for a clear direction before entering the market.
Bitcoin: If it rebounds to around 69,000-69,500, consider short positions. The first target is 67,000, and the second target is 66,500. If the price stabilizes near the middle Bollinger Band, try a small long position to play the secondary rebound, with a stop-loss below the middle band.