#BTC is once again retesting the resistance zone following a sharp dip and swift recovery. Price action remains choppy and indecisive at the moment, making it challenging to take clear positions. This volatility is likely to persist until we see a strong higher time frame (HTF) confirmation, particularly a decisive daily or weekly candle close, which will provide better clarity on the next major move.
This kind of erratic movement often suggests the market is in a re-accumulation or distribution phase, depending on the broader context. Given the recent recovery, bulls are trying to reclaim momentum, but without HTF confirmation, any move can still be a fakeout. Traders should stay cautious around resistance and watch for signs of strength (like volume-backed breakouts) or weakness (long upper wicks, failed retests). Patience is key here, wait for the market to show its hand.
