【 Bitcoin enters a choppy, grinding phase: hold your spot, don’t get shaken out by a wick 】
Yesterday, we said that after Bitcoin briefly wicked below 80,000 and then formed a long wick, this couldn’t yet be considered a confirmed breakdown. The key is still the daily close.
Bitcoin has now returned to its previous trading range. The daily chart shows rising volume and a long lower wick, a bullish divergence has been confirmed on the 4-hour chart, and the daily MACD is also approaching support at the zero line. Short-term indicators and price action have both improved somewhat.
For now, keep an eye on the 84,000–85,000 range. Whether Bitcoin can break through and hold above it will determine if it can make another run at the previous high in the short term. If it continues to fail to break through, the market will likely remain choppy, so be prepared for more sideways trading.
But for spot holders, there’s no need to be overly bearish here. We remain bullish on the broader trend. Even if Bitcoin moves down to test lower levels again in the short term, the area around 78,000 is worth watching closely and is expected to provide strong support.
Also, from a risk-reward perspective, compared with chasing the rally, the downside risk and potential upside from current levels are not entirely balanced.
So keep holding your spot, watch more and trade less. Don’t let short-term wicks scare you into constantly changing your position. Choppy markets are the most exhausting; the most comfortable trades often come after the direction becomes clear.
❤️ Be sure to check out Figures 1 and 2 for key points. For reference.
#BTC $ETH #sol $UNI
Yesterday, we said that after Bitcoin briefly wicked below 80,000 and then formed a long wick, this couldn’t yet be considered a confirmed breakdown. The key is still the daily close.
Bitcoin has now returned to its previous trading range. The daily chart shows rising volume and a long lower wick, a bullish divergence has been confirmed on the 4-hour chart, and the daily MACD is also approaching support at the zero line. Short-term indicators and price action have both improved somewhat.
For now, keep an eye on the 84,000–85,000 range. Whether Bitcoin can break through and hold above it will determine if it can make another run at the previous high in the short term. If it continues to fail to break through, the market will likely remain choppy, so be prepared for more sideways trading.
But for spot holders, there’s no need to be overly bearish here. We remain bullish on the broader trend. Even if Bitcoin moves down to test lower levels again in the short term, the area around 78,000 is worth watching closely and is expected to provide strong support.
Also, from a risk-reward perspective, compared with chasing the rally, the downside risk and potential upside from current levels are not entirely balanced.
So keep holding your spot, watch more and trade less. Don’t let short-term wicks scare you into constantly changing your position. Choppy markets are the most exhausting; the most comfortable trades often come after the direction becomes clear.
❤️ Be sure to check out Figures 1 and 2 for key points. For reference.
#BTC $ETH #sol $UNI