The breakout on Friday still wasn’t able to push hard enough; in the end, it failed to cross the $85,000 mark. On Saturday, it once again began entering a new round of consolidation.
During the weekend, the market is expected to trade in a narrow range around $84,500–$83,500. It’s estimated that only on Monday will a new breakout emerge. However, you should also pay attention to this phase: if price continues to consolidate at the lower end around $84,000, it will be more likely to break downward later.
For weekend positioning, swinging short-term trades back and forth within the $84,500–$83,500 zone is fine. If you want to set up a medium-term position, I’m more inclined to first look for potential downside moves around the $84,500 area. If the rebound over the two weekend days is not strong, then hold until a downward breakout toward the $81,500/$80,000 support levels.
During the weekend, the market is expected to trade in a narrow range around $84,500–$83,500. It’s estimated that only on Monday will a new breakout emerge. However, you should also pay attention to this phase: if price continues to consolidate at the lower end around $84,000, it will be more likely to break downward later.
For weekend positioning, swinging short-term trades back and forth within the $84,500–$83,500 zone is fine. If you want to set up a medium-term position, I’m more inclined to first look for potential downside moves around the $84,500 area. If the rebound over the two weekend days is not strong, then hold until a downward breakout toward the $81,500/$80,000 support levels.
