"After countless trials, still strong and resilient, regardless of the winds from the east, west, south, or north."

Hello everyone, I am trader Gege. To start, let's touch on the title. Since testing the 65,000 level on the 24th and 26th, Bitcoin has directly entered a strong upward trend without any significant pullbacks. This is a very robust performance. Since March this year, there have been five instances of breaking 70,000 followed by pullbacks. Will this time follow the old path or create a new historical high? At this crossroads of bulls and bears, are you standing with the bulls or the bears? Later, I will share my personal views.

Never put all your eggs in one basket. Does this phrase sound familiar? Many investment moguls have said this, which actually refers to the issue of risk management. I often mention concentrating your advantages, but today I will briefly discuss the concept of risk diversification. Many people simply understand it as putting all funds into one cryptocurrency as concentrating advantages, while doing several at the same time is seen as diversifying risk. However, this is not the case. While risk diversification is important, spreading your focus too thin is detrimental.

Everyone has limited time and energy; it's impossible to have multiple arms. When you are involved in several cryptocurrencies at the same time, each one corresponds to a different pool of funds, and the data feedback from the bull-bear game will certainly differ. At this point, you should ask yourself whether you have spent enough time and energy to understand the multiple products you are involved in and whether you are familiar with their risks. More often than not, you are just following the crowd. Therefore, it is better to focus on one or two leading products in a specific sector. When you spend more time analyzing and reviewing the market, you will develop a sense of the market, as well as insights from indicators like K-lines after the bull-bear game, allowing you to find familiar market conditions. This way, when you participate, your chances of success are higher. This is how you concentrate your advantages while also reducing risk, which can be seen as a form of risk diversification.

Now, let's return to Bitcoin's market. It is currently testing the 72,000 level. The previous K-shape pattern at the weekly level has some pullback risk, but this week it opened with a direct surge and broke through the 70,000 mark, which changes the situation. This is the sixth breakthrough. As mentioned before, the probability of breaking through after multiple tests of the same resistance or support increases. So, I will state my conclusion: as long as it stabilizes above 70,000 and does not break back, we will see a new historical high, conservatively estimated at 75,000-78,000. I have mentioned this idea in previous articles, which you can review.

The above image was mentioned in the article on the 13th, and this viewpoint has been reiterated in subsequent articles. Following this line of thought, for those who are cautious, if Bitcoin does not break 70,000, consider buying at 71,000-70,500, aiming for the previous high, with a breakthrough target of 75,000-78,000. For the more aggressive traders, you can try a small position at the current price of around 71,700, planning your position reasonably, also aiming for the previous high, with a breakthrough target of 75,000-78,000. This is quite aggressive, so please manage your risk accordingly. This is a reference suggestion for those currently in cash. Internally, we already indicated a trend entry on the 26th, and we are now in the process of harvesting, waiting for the market to validate and expand profits.

This advice is for reference only. Ensure proper risk management when entering the market, and manage your profit and stop-loss spaces accordingly. Specific strategies should be consulted in real-time.

Alright, friends, we will say goodbye until next time. I wish everyone continued success and smooth sailing in the cryptocurrency world! More real-time advice will be sent internally. Today's brief update ends here. For more real-time advice, find Gege.

Written by/ I am trader Gege, a friend willing to accompany you in your resurgence.

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