Quick update on the
$BTC afternoon session for those waiting on the board. The market is currently in a lull, with extremely tight volatility making leverage junkies anxious.
Looking at the technical indicators, things are pretty tense:
๐น 15-minute frame: Price is fumbling below MA(20) at 66079 and EMA(9) at 65968. This indicates that the bears are slightly in control in the short term, applying pressure every time the price shows signs of a rebound.
๐น 1-hour frame: Both MA(20) at 66405 and EMA(9) at 66115 are acting as solid resistance above.
$BTC is still stuck in a consolidation zone, with no signs of a strong enough PUMP to break through this resistance.
In my view, the market right now feels like a coiled spring. Donโt rush into LONG positions without clear confirmation of a breakout past 66400. Don't let greed cloud your judgment while the bears are waiting to strike.
My personal setup for this afternoon:
๐ I will wait to SHORT in the range: 66300 - 66500.
๐ฏ Take profit (TP): 65500 - 65000 (Taking some profit while holding onto gains).
๐ Stop loss (SL): 66850 (Accepting that if we sweep past the old high, we must exit immediately).
Whatโs your take, do you think
$BTC will have a surprise DUMP this afternoon or just chop sideways until evening?
Note: This is my personal perspective, not investment advice. Trading always carries risks (DYOR).
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