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The US side’s short-term consensus and institutions buying the dips are the main reasons behind this round of the breakout above 80k.
As for where we are right now, there aren’t many strong catalysts on the news front—(other than the overnight small non-farm figures and the pending big non-farm). And usually, this kind of setup is the most headache-inducing.
Technically, the rally has already run up too far. There’s no divergence pattern at all. Instead, it’s been repairing while moving sideways—which is also why I don’t dare to chase it, especially at the end of the week. Personally, I’m more inclined to see a pullback.
The market is weak to the point of being ridiculous. If BTC isn’t staying firm anymore, then what kind of situation would that be??? $BTC