Bitcoin still hasn't shown a clear sell-off appearance. After a slight correction last week, there was no continuation. After a large decline, it closed with a small rebound, testing around 79,000 before rising again. This is not a downward continuation pattern but a consolidation breaking through to new highs. I mentioned that if the daily closing price stays above 82,000, the price will reach new highs. If it peaks and falls back, it should be a series of down days, but the market has already confirmed that the price will continue to rise.

Given that the overall market has already rebounded to the key resistance level of 0.618 and is near the upper edge of the wedge pattern, further upward movement here is only a short-term opportunity. To short, several conditions need to be met: the market quickly surges again to hit a top, or forms a high-level consolidation zone between 82,000 and 84,000, with the daily Bollinger bands flattening. Additionally, a false breakout above the wedge upper boundary followed by a large decline to trigger a follow-up, otherwise, treat it with a slow upward trend.
The daily chart clearly shows a sideways upward rhythm, with a breakout above the previous high, then a pullback, and then another rise. Currently, it is in the structure of breaking the previous high, pulling back, and then surging again. Short-term support is around 79,000. However, it’s important to note that in the current rhythm, the upward amplitude is getting smaller and slower, somewhat like a topping consolidation. We cannot confirm where the top is yet, but the risk of chasing highs is too high. Currently, only short-term trading opportunities exist.
On a smaller scale, a further surge might create a significant divergence, which could then lead to a substantial correction. At present, it’s just a small-scale range consolidation. During the day, a slight pullback to seek support around 80,500–80,000 for a rebound is expected. Therefore, intraday, consider ultra-short positions near 82,000, watch for rebound opportunities at lower levels, and continue to wait for medium- and long-term signals. The best performers are some altcoins, which can be a focus for opportunities.
In summary, the market is at a key resistance level. The upward speed and amplitude are slowing, indicating a possible top, but no clear signal has appeared yet. Several scenarios suggest a larger pullback could occur. Until then, treat it as a short-term sideways upward trend. Today, a pullback and rebound are expected, with ultra-short positions near 82,000. Watch for support and rebound around 80,500–80,000. For altcoins, focus on SAGA#区块链、 .