The beginning of the week with a doji candle made many think that selling pressure had returned and the market was about to experience a deeper decline. However, from my perspective, this candle resembles a short trap more than an immediate confirmation of a continuing downtrend.
The reality is that after that phase, $BTC quickly returned and moved up to the upper boundary once again, indicating that the market is still quite volatile and it is not easy to conclude just by one candle.
I think it is highly likely that many Short orders placed at the upper border, especially those with short stop loss, have been nearly swept away in the recent movement.
This is also a very familiar price movement during periods when the market lacks a clear trend: continuously pulling up and down to take liquidity before choosing a stronger direction.
Therefore, if the price can continue to break through the resistance at the current level, you can completely have a better exit point instead of having to sell hastily when the sentiment is pressured.
As for me, I still patiently wait down below 😁 My current viewpoint has not changed, which is just waiting for the price areas that are beautiful enough to DCA more. Short-term rebounds are often very unpredictable and can easily lead people to make hasty decisions. The main trend, in my opinion, is still down, so there is no reason to rush to guess the bottom at this time.
