$BTC
You need to be very careful when trading in the current market!
I don’t want to pour cold water on the bulls, because I also hope for a quick reversal and breakthrough, as I have invested quite a bit in spot at the bottom.
However, as a technical blogger, I can only say what I can see and understand from the market information.
It is evident that liquidity is gradually drying up, being absorbed by the U.S. stock market and the gold market. The Federal Reserve has no expectation of interest rate cuts, and tariffs are still undecided. From a logical standpoint, what fundamental factors can support a rapid rebound to a bull market?
The technical aspect is even clearer; you shouldn’t always stare at the minute chart. You should look at the daily and weekly trends!
The so-called surges on the minute chart are merely fluctuations on the weekly chart.
The 86100 range has attempted to break through twice, both ending in failure, let alone the significant resistance at 89000. The middle line of the daily chart has been grinding for 4 days, and it hasn’t even touched the upper line. Don’t be fooled by the current rise of Bitcoin; that is the result of sacrificing liquidity in the crypto space. Bitcoin moves 2 points a day, but look at how many altcoins are crashing!
Although the MACD has shown a golden cross, it hasn't touched the zero line yet, indicating insufficient bullish momentum; the overall trend remains suppressed near the moving averages.
Such a market makes it hard for me to believe that a bullish or bearish reversal can happen in the short term. However, in trading, you can’t rely solely on our perceptions; you can’t just claim bearishness because I went short or bullishness because I went long. Both rises and falls need solid fundamentals.
So I can only say, be cautious in chasing highs and cutting losses. The current position is not a bottom, chasing long carries high risk. A gentle reminder: for reference only, please avoid mindless trolls!
