$BTC Trading range at a high level—are they using it to lure before distribution???
The 4-hour chart is no longer the kind where it bounces and then gets smashed back down. Price has been staying along the upper half of the trading range. The pullback depth is getting smaller and smaller, and the chip/cost basis is clearly shifting upward.
More importantly, in the past, every attempt to push higher was quickly cashed out. Now, the price is lingering at high levels for increasingly longer periods, suggesting that sell orders above are being slowly digested. Trading volume hasn’t entered an acceleration phase yet. At times like this, a sudden surge may not be a good thing—better to move sideways and churn, washing out floating supply; then the subsequent breakout should be cleaner.
Recent U.S. employment data has been weak. Expectations for the Fed to continue rate hikes have cooled, and risk appetite in the U.S. stock market has recovered somewhat. This is a relatively friendly environment for BTC in the short term. Next, what truly needs to be watched is Wednesday’s U.S. CPI—this data is likely to become the catalyst that breaks the sideways consolidation.
Don’t watch the downside too closely. Focus mainly on the 64000—64500 zone. As long as that area holds, the entire 4-hour consolidation structure won’t be broken.
The real major pressure above is still 65500—67000, especially near the prior high around 66900. Only a break above here counts as fully opening up this whole box range.
Now the most frustrating part is that it doesn’t break out, yet it also doesn’t give a comfortable pullback. This kind of market usually isn’t directionless—it’s waiting for volume and catalysts to show up together. The longer the sideways move lasts, the more closely you should watch the eventual choice.
#比特币ETF周净流入8.53亿美元
$ETH $MU
The 4-hour chart is no longer the kind where it bounces and then gets smashed back down. Price has been staying along the upper half of the trading range. The pullback depth is getting smaller and smaller, and the chip/cost basis is clearly shifting upward.
More importantly, in the past, every attempt to push higher was quickly cashed out. Now, the price is lingering at high levels for increasingly longer periods, suggesting that sell orders above are being slowly digested. Trading volume hasn’t entered an acceleration phase yet. At times like this, a sudden surge may not be a good thing—better to move sideways and churn, washing out floating supply; then the subsequent breakout should be cleaner.
Recent U.S. employment data has been weak. Expectations for the Fed to continue rate hikes have cooled, and risk appetite in the U.S. stock market has recovered somewhat. This is a relatively friendly environment for BTC in the short term. Next, what truly needs to be watched is Wednesday’s U.S. CPI—this data is likely to become the catalyst that breaks the sideways consolidation.
Don’t watch the downside too closely. Focus mainly on the 64000—64500 zone. As long as that area holds, the entire 4-hour consolidation structure won’t be broken.
The real major pressure above is still 65500—67000, especially near the prior high around 66900. Only a break above here counts as fully opening up this whole box range.
Now the most frustrating part is that it doesn’t break out, yet it also doesn’t give a comfortable pullback. This kind of market usually isn’t directionless—it’s waiting for volume and catalysts to show up together. The longer the sideways move lasts, the more closely you should watch the eventual choice.
#比特币ETF周净流入8.53亿美元
$ETH $MU