The large pancake has been oscillating in the range of 106500-108300 for a day now, and the 1-hour line is almost straight. The Bollinger Bands have narrowed significantly, and it feels like a trend reversal is imminent.

I still hold the short position from yesterday; although I’ve been shaken out a few times, my strategy remains unchanged:

If it rebounds to around 108000 again, I plan to add to my short position.

If it breaks below 106500, I will hold on to see if it goes to 105000.

In case it breaks above 109000, I will accept the loss and stop out.

Currently, market liquidity is poor, and these types of markets are most prone to false breakouts. The MACD has not turned bullish yet, so I am still leaning towards a bearish perspective, but I will keep a close eye on the 108300 level.

Remember: when operating at the end of a range, always set stop losses; it’s safest to wait for the market to choose a direction. #BTC $BTC