#BTC is in a complex consolidation phase

17 godzin temu

📊#BTC is in a complex consolidation phase☕️

🧠From a structural perspective, we've encountered resistance at the gray resistance band and are now forming a double-top bearish structure. The aggressive support zone is 110,000-111,000, while the extreme support zone is 106,000-108,000.

➡️We've attempted some short trades at the overlapping resistance zone. The market is currently developing as expected. We're currently in a sideways consolidation phase, so we should prioritize range-bound trading!

➡️After most high-leverage positions are liquidated, spot trading opportunities will emerge. Based on previous similar events, it's only a matter of time before we continue to reach new highs. Therefore, the trading range worth participating in is 100,358-107,258, with the target being the ATH.

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#BTC

It has rebounded over 2,000 pips from its lows, and our entry point is no longer favorable. We should close our positions and wait for a new low or re-enter around 109470.