Yuki Eliot

Market Update

• Price has reclaimed the $73,700 level, currently trading at $73,835.14.
• The previous bearish momentum, which saw a breakdown toward $73,300, has been negated by a brief consolidation and a subsequent push back above the immediate resistance flip point.
• The recent 10-day data shows a pivot; while we saw a series of lower closes, this bounce suggests a potential short-term exhaustion of the sellers.

Current Trend & Key Levels

• Trend: Neutral-Bearish. The move back above $73,700 serves as a technical "prove-it" moment.
• Resistance: $74,000 (psychological/volume), $74,300 (previous consolidation low).
• Support: $73,700 (critical flip), $73,300 (recent swing low), $72,500.

Action for existing position holders

• HOLD: For those in short positions, maintain stop-loss at $74,150. If price sustains above $74,000 for two consecutive 1-hour closes, consider trimming 50% of the position.
• WAIT: No new long signals triggered. Do not chase this recovery until $74,000 is flipped into firm support.
• For those currently flat: Remain on the sidelines. We are in a noise zone between the recent breakdown level and the major resistance overhead.

Risk Assessment

• Market volatility is low but rising. The current price action is indicative of a "dead cat bounce" until proven otherwise by a breakout above $74,300.
• Downside risk remains significant if the $73,700 level is lost again on high volume.