The analysis on the 24th reminded that once it holds for 4 hours, you can try a long position. After BTC held above 83,500, it surged upward; yesterday the high reached 85,146, but it failed to hold. Now it has fallen back to around 83,500 and is consolidating. In the short term, it’s basically a pullback after a spike.
85,146 couldn’t hold, and the 85,000 resistance wasn’t broken either. But after the pullback, it returned to around 83,500, which means this level is temporarily still the dividing line between bulls and bears. If it holds, there’s still a chance to try 85,000 again; if it fails to hold, the low point of the needle at 82,832 will need to be brought back into focus.
In the short term, price is still trading in a box range between 80K and 87.5K—look for a more cost-effective entry point to go long!
The big cake has fallen like a waterfall. Last night I saw a pin inserted at 83450, and just now it kept dropping and broke below 83000, then pinned at 82800. After pushing up and then rejecting near 87000, the shorts moved in very quickly this round.
The range 87247-87385 failed to hold. The attempt to short around 85000 had actually already given the signal in advance. Now with breaks of 85000 and 83450 in succession, this is an acceleration downwards after a stall at high levels.
Next we’ll see whether 82955 can be reclaimed. If it can be reclaimed, then at most it will chop sideways first. If it can’t be reclaimed, then 82000 and 80000 will both need to be watched again. Don’t rush to catch the bottom this time—wait for the pin to fully hit, and for the 4-hour chart to stabilize before considering it.
Is the bull really back? The big cake has jumped $10,000 in a week; today it surged to 87247 and then pulled back. It is now consolidating around 86710. This move that started from 76500 has been quite well-structured.
Two days ago, at 85000 they tried a short entry. Once shorted, it dropped by only about $1,000. With protection attached, the trade basically broke even. Luckily protection was included; otherwise, when it surged to 87385 yesterday, that position would have been a loss. Trying to short at high levels is possible, but shorting without protection is basically handing money to the market.
Near 87000, there were consecutive surges followed by pullbacks, which shows that resistance in this area is still present. For now, the short term should be treated as high-level consolidation. Only if there is a valid breakout and it holds above 87000 do we have the right to keep looking toward 90000. If 87000 cannot be broken, then a pullback to 85000 is completely normal.
Be careful about chasing shorts. There is a high chance of a fake breakdown that lures shorts in, and then price will go on to test 90000. Be cautious when entering short positions!