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BTC Market Update
Bitcoin failed to break above 79,420 today, with large funds selling off causing a pullback, and the upward momentum has clearly slowed down.
Tonight's market is likely to see a slight rebound, with the 78,100~79,400 range acting as resistance. If it cannot reach a new high on the rebound, consider short positions.
If the weakness continues, first watch the support at 75,300~75,600;
The current strongest support is at 73,800~74,000, which is a good buying opportunity if it drops to this level.
But be sure to note! If the 74,000 support is broken directly, the market will turn fully bearish, heading straight towards 70k or 68k!
Currently, it’s still in a high-level consolidation phase, so don’t blindly go against the trend; just follow the price movements.