BTC is accumulating momentum, how should long and short position

Dec 29, 2024

BTC has recently fallen from a high level. The price turned and fell from the high point of 108340 to 92542 to stop falling and adjust. So far, BTC has entered a short-term decline.
The price on the hourly line rebounded to the support of 92542 and rose. The price failed to hit the integer of 100,000 for the second time, forming a double top decline structure. The current trend fell back to 93500 and entered a narrow horizontal consolidation stage. The resistance of 96000 above is under pressure. If this position breaks, the hourly line descending channel will be broken. In the short term, the price will test the 100000 line above. The support of 93500 below, if this position breaks, the short-term rebound trend will end and test the 92542 line below.
On the whole, BTC entered the accumulation stage after the short-term double top fell. In terms of trend, the price also reached the top of the hourly channel. However, there are many resistance levels above. Even if the downward channel is broken later, the trend will enter the horizontal range structure. But if the trend breaks down, there is more room for the price to continue to fall.
In terms of operation, I personally think that BTC will continue to rebound and short before the channel breaks up.
Long orders will be involved after the price breaks through the 100,000 line.