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Bitcoin has pulled back from its $74,000 high point, and the future trajectory has become uncertain. The market is at a critical crossroads. Currently, regarding the direction of subsequent moves, the market is showing two distinctly different voices, with clear disagreements between bulls and bears.
On one hand, on-chain data reveals some positive signals. Spot buying pressure remains strong, the order book shows no obvious imbalances, and long-term market conditions have improved somewhat, providing certain support for the market.
On the other hand, recent trading volume has been weak, and price highs have formed a technical divergence. The current rebound may only be a retest of the previous support level turning into a resistance level. Bitcoin is expected to face further downside risks in the short term.
Friday Evening Analysis
Bitcoin: around 70900-71500 resistance, support: around 69800-69000
Ethereum: around 2090-2120 resistance, support: around 2035-1990
People on different frequencies should no longer interact with each other. This applies to all circles. In the absence of conflicting interests, you need not argue with anyone. Your criticism will not inspire their change, and it will only scatter your precious attention.
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