The essence of BTC being range-bound for a long time is that trading lots are changing hands (chip turnover). The main fund often pushes the market in a direction that causes most traders to lose; you can judge the majority of people’s direction in the market by looking at the funding rate and the long/short positions in the order book. The current consolidation has lasted about three to four weeks, and it is likely to continue.
Trading approach
1. During the range-bound phase, there is no clear one-way direction—wait for a breakout confirmation
2. When testing the upside resistance above 8.05, you can short one position; stop loss is the prior high
3. Key boundary: hold the bullish engulfing long white candlestick (big bullish candle) at 7.62 to preserve the long structure; once the body of the big bullish candle is broken to the downside, the chart turns bearish
Trading approach
1. During the range-bound phase, there is no clear one-way direction—wait for a breakout confirmation
2. When testing the upside resistance above 8.05, you can short one position; stop loss is the prior high
3. Key boundary: hold the bullish engulfing long white candlestick (big bullish candle) at 7.62 to preserve the long structure; once the body of the big bullish candle is broken to the downside, the chart turns bearish
