BTC has recently maintained a high-level consolidation. With the changes in the market, a short-term 📈 trend line has emerged. Throughout the entire oscillation process, there has not been a strong demand for retracement, and the indicators have been digested through consolidation.

If you want to bet on a left-side bearish position, it is essential to see the establishment of structure and signals confirming the bearish trend or to observe the emergence of selling points on the right side!

It is evident that during this period, there have been no favorable adjustments provided, making it difficult to grasp the timing of pullbacks within such a narrow range. The only option is to enter along the lower part of the current channel as a secondary buying point.

A better price would certainly be the starting point of the previous consolidation, but it may not be offered. We should observe and attempt in two stages!

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Regarding the medium-term:

Currently, we are approaching a strong resistance at historical highs, and I believe it is necessary to issue some risk warnings ⚠️.

In terms of choosing medium-term orders, it actually does not support the trend's breakout space. The reason is simple: the distance from the previous high is only 5000 points. Thus, 109k is a psychological level for the market and also serves as a previous double-top resistance, with substantial selling pressure present. It does not offer much in terms of risk-reward ratio. Therefore, regarding the medium-term view, it might be worth considering building a position in Ethereum.