Today’s Bitcoin outlook: Absolutely do not chase high above 69,000. The current price has already deviated significantly from the moving averages, and chasing high faces a great risk of a sharp correction and liquidation. The price is at the previous high of 69,500-69,583, with consecutive long upper shadows, large bearish candles, and other signs of a top, while volume is increasing but with stagnant price movement.

The moving averages are turning downward, and if the price effectively breaks below them, it confirms a short-term trend reversal. Do not allocate more than 10% of your total funds—strictly control risk.

If the price breaks through the previous high of 69,583 and continues to rise, long holders should hold their positions. If the target of 70,000 is broken, they can continue to hold.

Those without positions should abandon chasing highs and wait for a pullback; short positions should have unconditional stop-losses.

Set stop-loss above the previous high of 69,583. Once the price breaks above this level, immediately exit to avoid fighting the trend.

Take profit levels: first target at 68,600; second target at 67,800. Once the target is reached, take profits immediately—don’t be greedy.

If the price stalls around 69,500, long positions should take profits and exit immediately. Short positions can enter lightly to play the pullback.