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The short-term consensus on the Imei side and institutions’ dip-buying are the main factors behind this round’s breakout above 80k.
As things stand at this stage, there aren’t many market-moving factors on the news front (besides the overnight small non-farm payroll and the awaited big non-farm payroll), and this kind of situation is often the most headache-inducing.
From a technical perspective, the upside has already been too big. There’s no divergence pattern—on the contrary, it’s repairing while trading sideways. This is also why I don’t dare to chase it. Especially near the end of the week, I personally lean more toward waiting for a pullback.
It’s weak in a way that’s not even normal. If BTC isn’t staying firm anymore, then what else would the situation be then??? $BTC