Song Xiqing: Evening brief update — still the same as before, continuing to wait



Good evening, just a quick recap. Spent the day wandering around, still haven't found a direction.

No new news on the market front, the Middle East situation is still unresolved, and the US stock market pre-market also shows no signs of improvement. Bitcoin is still stuck in the narrow range of 61k-62k, touched 61.8k during the day and then dropped back, indicating strong resistance above.

Don’t overthink it, the bearish trend hasn’t changed, and small rebounds are just for you to get in. On the 4-hour chart, that low of 60.7k will likely be tested again sooner or later. The current price is around 61.3k, with resistance still at 62.5k-64k. The hourly chart has been sideways all day, unable to gain momentum, a typical weak market consolidation.

Tonight will probably still be a grind, patience until the rebound is in place before taking action.
BTC-0.14%
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