On Tuesday morning, Bitcoin's price action directly experienced a "short squeeze" type rally.

After confirming support at the 70,400 level during yesterday's pullback, the bulls began to take control, and the market almost had no room for a correction, steadily rising to around 74,900.

From a structural perspective, the short-term cycle has already clearly turned stronger. Four-hour candles show continuous volume-driven bullish candles, not only recovering previous declines but also bringing all moving averages into a bullish alignment. The trend is no longer sideways but leaning toward a one-sided upward movement.

In terms of trading, avoid blindly chasing highs. Corrections are opportunities. In the early session, focus on the support around 74,000. If it stabilizes, consider going long with the trend. If the price struggles to break through near 75,000-76,000 or shows signs of stagnation or weakening, consider reversing to short positions, targeting a potential pullback.

In summary, the trend has already shifted bullish, but the price isn't low. It's better to wait for a pullback to go long rather than chasing highs driven by emotion.