BTC’s overall trend was initially strong, surging up to a peak near 65,500, then turning and pulling back. After failing to break higher, it remained under pressure at the high end and formed a choppy downward move. Currently, it is consolidating around 64,200, with the price falling to trade near the Bollinger middle band.

Short-term outlook:

If the price is capped and lingers in the range between the Bollinger middle band and the upper band, it can be shorted in line with the trend. If the rebound reaches the 64,700–65,000 resistance zone, a pullback is likely in the short term. On the downside, first look to 63,800 support at the Bollinger lower band; if it breaks, it will further open up the downside space.

After retesting the Bollinger lower band around 63,800, if a reversal-stalling candlestick pattern forms, consider a light-position long. The rebound target is the 64,700–65,000 resistance level. #BTC