Bitcoin has been sideways for two days; it’s basically ranging around the blue line. How it will move from here depends on whether there is action in the market tonight. If there’s still no market action, then I think tonight there probably won’t be much movement.

Personally, if you want to short, you can place a short order at the resistance level above—so, submit the short at that level. Even though it’s currently moving sideways, if there isn’t any particularly big news, I don’t think it’s realistic for it to keep pushing upward. After all, this is a bear market. If you want to go long from the lower side, then it’s best to place the order at the second support level.

The white line is my balance point between long and short. If it’s in that middle position, then generally you shouldn’t place either long or short orders there.

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