BTC Outlook: Long positions can be initiated around 71000, with the first take-profit target at 71600, targeting a short-term swing trade. A breakout could lead to 72400 and 73550.
Short positions can be initiated at 71600. A breakout would indicate a change in the short-term downtrend, allowing for either a stop-loss or adding to the position at resistance levels.
The overall trend remains unchanged: bearish. Long positions are only suitable for capturing rallies!
This market analysis may not be entirely accurate, and your own analysis might be correct!
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