BTC wide range

2 days ago

BTC is currently in a high-level wide range oscillation stage. After the price rose and fell in the previous period, it continued to weaken in the downward channel until it rebounded and rebounded at the 92000 line. The resistance of the 100000 line above continued to suppress, and the price formed a horizontal wide range after experiencing multiple ups and downs. At present, the price has rebounded at the 92000 line and gradually raised the low point, testing the resistance level of the 100000 line again. If this resistance is broken, BTC may re-enter the upward trend. The 96000 line below is a short-term support. Once it falls below this position, the price may return to the bottom of the range, and the short-term market will be bearish.

At the short-term level, BTC has entered the stagflation adjustment stage after multiple rises, forming a technical pattern of double top weakening. In the short term, the 97000 line is a key support. If it falls below this position, the rebound trend may end and the price will continue to be horizontal.

Suggestions for short position operation:
Aggressive operation: When the BTC price is close to 98,000, short positions can be arranged. The target downward support levels are 96,200, 95,400, and 94,000, and the stop loss is set at 100,000.
Steady operation: It is recommended to wait for BTC to form an M head and break the support, and enter the market after confirming that the short-term trend turns to short. You can pay attention to the short position opportunities in the 97,200-96,800 area.

Overall, the current short-term trend of BTC is still in a volatile consolidation pattern, and breaking through key resistance or support will determine the short-term direction.