Bitcoin pulled back after surging higher, showing signs of fatigue with range-bound trading favoring shorts

Bitcoin declined 1.84% intraday, exhibiting a typical spike-and-pullback pattern. After dipping to 68,924 USD in early morning, it rebounded quickly and surged to 71,400 USD at one point, then came under pressure and pulled back with evident disagreement between bulls and bears.

The daily line printed a long upper wick with significant selling pressure above. 71,400 USD is the key short-term resistance, corresponding to the lower end of the dense trading zone from early March, making it difficult for bulls to break through effectively. 68,900 USD below has been tested multiple times today as support; a breakdown could easily trigger algorithmic stop-loss orders and spark further downside exploration.

Strategy: (With current market direction unclear, short-term trading is suited for buying dips and selling rallies around key levels, prioritizing opportunities to short on rebounds.)

BTC: Build short positions in batches in the 70,900–71,500 range with a stop-loss at 72,000 USD. Target downside at 68,900 USD. Strictly control position sizing and manage risk carefully. #Gate正式接入Polymarket $BTC