Xiaoqing's Viewpoint:

BTC is currently still in a downtrend within a larger cycle, while simultaneously being suppressed by a wedge consolidation structure. This round of decline has not yet reached its bottom, and 60,000 is most likely not the final low.
The previous wave dropped from 97,000 to 60,000, a decline of 38%. If we calculate using the same magnitude, from 76,000 downward by 38%, the corresponding level would be around 47,000.
From a short-term perspective, 71,200 is the dividing line between bulls and bears, with 71,000–72,000 USD being the core resistance zone.
Before this zone is effectively broken through, I will continue to adopt a high short strategy primarily—in bear market conditions, breakouts are mostly false signals.
If you must trade, enter with small positions 👍
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