In the early hours of today, the Bitcoin market showed a sideways trend, with prices peaking near 85,500 USD but unable to effectively hold that level, followed by a slight pullback to the 84,600 USD level. After successfully taking profit on long orders last night, the short order strategy we implemented by taking the opposite position gained nearly 800 points in profit. The overall market is currently maintaining a narrow sideways fluctuation in the 84,600-85,500 USD range, with trading sentiment becoming cautious. It is worth following that this consolidation may be building momentum for important economic events such as the U.S. tariff policy towards China, which will be announced today.

From a technical perspective, although the hourly chart has seen consecutive bullish candles, the price has tested the $85,500 level multiple times without effectively breaking through, indicating strong resistance at this position. At the same time, the MACD histogram shows a bearish divergence, the RSI is flattening around 60, and volume is gradually shrinking, suggesting that short-term bullish momentum is weakening. Considering that major policy events could trigger market volatility, if the price tests the $85,300-$85,500 range again and cannot hold, one might consider shorting in the short term, with a stop-loss above $85,800 and a target towards the $84,200 support level. If negative news escalates, it could accelerate the pullback; conversely, if it breaks above $85,800, one should be cautious of further upside risks due to short-seller stop-losses. Some still rely on real-time guidance.

You can short Bitcoin around 85500 and look for 84000. You can short Bit around 1930 and look for 1830. #BTC #ETH #GateioInto11