$BTC Long time no see! Fellow traders, I've been in hibernation studying lately.
Let's break down BTC.
BTC has been holding steady at 75000 on the weekly chart and has consistently bounced off this level without breaking through, confirming the support. 75000 has now flipped from resistance to strong support, so we need to wait for a right-side short opportunity.
We're in a high-level consolidation phase, and the daily candlestick pattern looks like it could break to the upside at any moment, but the overall upward momentum and buy demand are relatively weak.
From a macro bearish market perspective, the true core strong resistance lies in the 80000—85000 range. This level is the watershed; wait to find a sniper position when we reach this zone.
This round of significant rebound linked to the US stock market has been ongoing for over a month, with an increase of over 25%. At this stage, I don't see a reliable right-side short entry opportunity. Personally, I lean towards this being a rebound, not the start of a new rally. I advise everyone to stay patient and wait for clear signals; maintaining a solid position mindset will be much more comfortable than trying to endure the pain of holding through high-level fluctuations.
Make sure to have your trading plan ready before entering the market.
Let's break down BTC.
BTC has been holding steady at 75000 on the weekly chart and has consistently bounced off this level without breaking through, confirming the support. 75000 has now flipped from resistance to strong support, so we need to wait for a right-side short opportunity.
We're in a high-level consolidation phase, and the daily candlestick pattern looks like it could break to the upside at any moment, but the overall upward momentum and buy demand are relatively weak.
From a macro bearish market perspective, the true core strong resistance lies in the 80000—85000 range. This level is the watershed; wait to find a sniper position when we reach this zone.
This round of significant rebound linked to the US stock market has been ongoing for over a month, with an increase of over 25%. At this stage, I don't see a reliable right-side short entry opportunity. Personally, I lean towards this being a rebound, not the start of a new rally. I advise everyone to stay patient and wait for clear signals; maintaining a solid position mindset will be much more comfortable than trying to endure the pain of holding through high-level fluctuations.
Make sure to have your trading plan ready before entering the market.