This market action lately really has brought the phrase “painstakingly grinding” to its ultimate form. With each round of sharp surges and sharp drops, the moves behind it are being driven madly by the news cycle; but once the market digests the sentiment, prices seem to be put under a spell—stuck in place, ranging and consolidating. Even last night’s US stock close lower failed to smash out a sustained downward channel. In the blink of an eye, it’s already Friday again. Looking at the overall situation right now, the main theme of oscillating upward hasn’t really changed. So for short-term trading, we still need to stay clear-headed, wait patiently for pullbacks—go long on dips as the primary approach, and avoid chasing highs blindly. #BTC