After BTC has surged higher, it doesn’t keep pushing up; instead, it’s more worth watching
After BTC reaches a high level, what’s most uncomfortable for most people is often not the drop.
It’s that it stops rising.
Because at this point, everyone starts to wonder:
Is the main force distributing?
Or is it consolidating for more fuel?
Should we keep chasing now or not?
From the 4-hour chart, we should still understand the current move as a broad-range consolidation; meanwhile, on the 1-hour chart, after a rapid run-up it has entered high-level sideways trading, and the short-term structure hasn’t directly turned bad yet.
But judging the high zone can’t rely on whether the price has merely declined.
There’s a change in the morning data worth paying attention to:
After the price spikes to a high, the futures open interest doesn’t continue to expand in a one-direction manner; funding costs remain in a moderately bullish range, but the enthusiasm for actively chasing the rally hasn’t kept increasing.
This suggests that the high area has started to diverge.
Some are waiting for a breakout; some are taking profits.
Some are still chasing the trend, while others are starting to guard against a pullback.
So the easiest mistake to make right now is to see the price hold sideways and assume the next candle will definitely keep running up.
Real healthy strength should mean that after sideways consolidation or a slight pullback, it can still hold the bids/positioning; instead of pushing the market higher with ever-increasing leverage.
Publicly watched zones:
Resistance above: 80,800, 81,800
Support below: 76,500, 74,500
Next, you don’t need to rush to guess the top.
First, when the price approaches 80,800, check whether there is new trading and order support; if there’s a pullback, then see whether it can hold around 76,500, where the prior structure was formed.
A bullish market doesn’t mean every level is suitable to participate.
Keep an eye on the homepage—going forward, we’ll continue to track what answers this high-level consolidation will bring.
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