BTC officially enters a sideways trend around 115200, with bulls and bears starting to contend
Bitcoin has faced resistance in the last couple of days, briefly testing 117000 but failing to hold it. It has now returned to the sideways consolidation near 115200. From the order book perspective, the market is in a tug-of-war phase between bulls and bears.
Status: 115200 sideways means the market is waiting for direction, with neither large short sellers dumping nor large funds chasing higher.
Short-term strategy
Sell high and buy low within the range: buy near 114800-115000 and take profit near 116000.
If it breaks below 114500, it may retest 113500, so be cautious of the risks.
Medium-term strategy
As long as 114000 is not lost, the overall structure of BTC remains bullish;
If it effectively breaks above 116500, the target could aim for 118000-120000.
Sideways markets are most prone to 'false breakouts', especially with sudden spikes or sharp reversals;
New traders should not go all-in betting on direction; keeping positions controlled at 20%-30% is safer;
If you incur losses on two consecutive trades, definitely stop, and don't try to outsmart the market.
