Yesterday someone asked me if I am bullish 📈#btc ? I think the current market is still in a high-level shrinking consolidation, with the fluctuations of the big coin being slightly smaller. We mentioned before that to be bullish, we must break through 105000. Before that, we should view it from a fluctuation perspective and not easily chase the rise, as the risk-reward ratio has no advantage. If not shorting, then just wait 😁

🌹From the analysis of shape and volume:

1. The purple box has been consolidating horizontally for nearly a week, with lower highs gradually flattening, forming a typical "consumption zone"; the overall volume has been decreasing in waves (red diagonal line indicates), showing that the bulls lack new funds to push higher.

2. Whenever there is a sharp increase, it is accompanied by long upper shadows, followed by a quick drop; the main force is clearly showing signs of selling during volatility.

3. The short-term average EMA12-26 has repeatedly topped at the top of the box, and the 2h EMA144/169 has moved closer to the bottom of the box. If it falls back to the lower edge, it will form a "death cross + break" resonance.

Overall thought:

In an environment where volume is gradually decreasing and selling pressure is frequent, it is more advantageous in terms of profit and loss to wait for a pullback after a breakdown than to rush to chase the rise.

Currently holding short positions, with defense set above 105200.