BTC has really been grinding you these past two days. The high was 85,390 and the low was 84,474—it's been oscillating within a range of only about $900. The current price is 85,281, up 0.85%. It looks like nothing happened.

Only if it breaks above 85,390 with volume and holds steady, will there be a chance to look at 87,385 again. If it pushes up on decreasing volume but can't hold, I won’t chase.

The 15-minute MACD has a golden cross, but RSI(6) is already at 68—it's a bit hot.
The 1-hour MACD has a golden cross as well. The rebound structure is still there, but RSI(6) has surged to 90—clearly overbought.
The 4-hour MACD just turned positive again. After the price moved from 63,944 up to 87,385, it’s now consolidating around 85,200.
The daily structure hasn’t broken, but short-term it needs to shake out.

Above 85,390: only after breaking out with volume and holding steady will there be a chance to look at 87,385. Below 84,474: if it breaks down, then we’ll look at 83,900.

My plan is simple: if it pushes up to 85,390 on decreasing volume and can’t hold, I won’t move. If it breaks out with volume, then does a pullback that doesn’t fail, then I’ll consider following. If 84,474 gets retested, I’ll see whether it stops falling—if it stabilizes, I’ll try with a small position. My stop loss is below 83,900.

At this level, chasing long is scary because of potential overbought and pullback; chasing short is also scary because a long consolidation often leads to a rise. I’d rather wait.

What do you think?
#BTC $BTC

Personal review only; not investment advice