As mentioned earlier, the downward channel has opened, and entering in batches is the only way to hold for the long term. The four-hour Bollinger Bands show consecutive downs, and the bullish pressure has clearly appeared. Once again, I must mention the whale that has been shorting for a long time, which has already removed 525 units, and the stance of retail short sellers is no longer firm.
On the macro front, the probability of the Federal Reserve not cutting interest rates is declining, coupled with the recent AI participation in the market, which has caused the cryptocurrency prices to fluctuate. This is also a good time for a reversal of the trend. It has been mentioned that institutions have already started building positions in the early net inflows of ETFs, entering the phase of accumulating coins. The expectation of the Federal Reserve cutting interest rates strengthens the digital gold attributes: the correlation with gold has turned from negative to positive, with geopolitical tensions in the Middle East and a weakening dollar leading to a surge in capital seeking safety. Strong pressure cannot stop the macro trend.
Suggestion: Enter half position at 67500, add to the position at 66600, and first look to sell half at the 70000 mark, with the target to continue holding at 74500.