BTCÐ Intraday Market Analysis

Last night, the bulls continued their strong momentum. BTC surged into the 79,000 mark, met resistance and pulled back. Overall, the correction was limited; it steadied and held above 78,000, entering a period of high-level sideways consolidation.

The plan of going long at yesterday’s low and then anticipating the pullback in the second half of the US session was fully realized. Short-term long positions took profits precisely, and the arbitrage trade was successfully executed.

With weekend market liquidity relatively weak, it’s difficult to see a clear one-way trend in the short term. We still maintain a range-bound oscillation approach. The chart shows a slow-drawdown structure with a “spike up then fall back” and gradual decline. In the short term, the main focus is to go short on the way down by following the move, relying on the resistance levels.

Short-term Strategy:
BTC: Short near 78600, target 77600
ETH: Short near 2220, target 2180

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