The real BTC breakout signal depends on the 4-hour timeframe. At the moment, the short-term moving averages are still relatively weak, and the strength of the bullish rebound is limited. However, the price action has been consistently trading around the 4-hour mid-band, and this is the biggest key point right now. As long as the mid-band has not been effectively broken to the downside, there is still a possibility of a choppy upward move.
Although the bears have started gradually increasing their volume, this is not the place to chase a short. Before the market has finished making its directional choice, I’d rather wait for the bears to stop out than let the bulls take the last step at a high level.
BTC trading idea: Place a short near 65,400. Target 64,400. If it breaks below 64,000, continue to watch for further downside.
The 4-hour mid-band is the line between bulls and bears. Hold it to keep ranging; if it is lost, the pullback will accelerate. #比特币ETF周净流入8.53亿美元 #BTC $BTC
Although the bears have started gradually increasing their volume, this is not the place to chase a short. Before the market has finished making its directional choice, I’d rather wait for the bears to stop out than let the bulls take the last step at a high level.
BTC trading idea: Place a short near 65,400. Target 64,400. If it breaks below 64,000, continue to watch for further downside.
The 4-hour mid-band is the line between bulls and bears. Hold it to keep ranging; if it is lost, the pullback will accelerate. #比特币ETF周净流入8.53亿美元 #BTC $BTC