March 5th BTC strongly surged to 74,000. Is this a reversal or a rebound?

It’s the fourth day of the Strait of Hormuz blockade!

Yesterday, starting from the European session, Bitcoin experienced a very strong rally, continuing into the evening before the US stock market opened. The US stocks hesitated, opening sharply lower on March 3rd and becoming oversold. Last night, US stocks opened high and continued upward, recovering from the previous decline. Subsequently, Bitcoin was pushed up to the 74,000 level, showing a slight pullback. The market surged by 7,000 points yesterday, with a normal correction of 2,000-3,000 points. We have been bullish all along, and finally reached around 71,400 before exiting the market.

The current fundamental situation remains unchanged: the war is ongoing and intensifying. The blockade of the Strait of Hormuz is becoming stricter, with no signs of easing or mediation in the geopolitical conflict. Whether it’s psychological warfare, war reports, or verbal confrontations, the escalation continues. We won’t go into each detail, but the core conclusion remains the same.

BTC trading advice: buy at 712-716, stop loss 800 points, target 73,300. Breakthrough to 74,300-75,000.