After two days of low-volume consolidation over the weekend, price briefly accumulated around 77k before moving higher again. The daily chart has also entered oversold territory, suggesting a temporary bottom has formed.
As emphasized earlier, this is a high-quality buying window. The only downside is that spot demand has yet to recover. Although there may still be a second or third retest, 76k is the average cost basis for STH holders, so the broader outlook remains unchanged: gradually shift from shorting rallies to going long on dips.
Overall, it’s still a dull market, but I caught most of the moves in these two trades last week: shorted continuously from above 81,000 down to 78,000, then flagged a reversal and a dip-buying opportunity at 77,000.
For intraday trading, you can still take a local view:
Go long on a pullback toward 77–78, and watch the 80k level.
If trading a retracement, consider 79.8–80.3 above.
As emphasized earlier, this is a high-quality buying window. The only downside is that spot demand has yet to recover. Although there may still be a second or third retest, 76k is the average cost basis for STH holders, so the broader outlook remains unchanged: gradually shift from shorting rallies to going long on dips.
Overall, it’s still a dull market, but I caught most of the moves in these two trades last week: shorted continuously from above 81,000 down to 78,000, then flagged a reversal and a dip-buying opportunity at 77,000.
For intraday trading, you can still take a local view:
Go long on a pullback toward 77–78, and watch the 80k level.
If trading a retracement, consider 79.8–80.3 above.
