The recent pullback in Bitcoin on Friday is quite interesting!
Although the price dipped down and hit a new low for the week, the premium situation in the spot market has finally stabilized and hasn't dropped further.
Now, the key focus is on the weekend leading into next Monday: if the price continues to plunge but the premium index starts to rise, then this wave of volatile pullback is likely coming to an end.
I’m currently holding cash, waiting for a bottom-buying signal, but this weekend is likely to be a low-volume grinding market. If there is to be a significant move, it probably won't happen until Sunday night.
Don't be fooled by the current lifeless market; if a divergence signal appears with falling prices and rising premiums, that could signal the bulls' counterattack. This bottom-grinding phase really tests patience, but technically, the space for further drops is quite limited now; we’re just waiting for the main capital to give a clear signal!
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