Bitcoin BTC, after a week of gains, is just one step away from 80K. Then, during the weekend correction, multiple attempts to break through failed, and it pulled back. This morning yesterday, the bearish move on the whole “two majors” shorts once again moved in precisely, with the price dropping steadily.
The current market is in a consolidation period before a direction is chosen. Although the moving averages are above the 20-day and 50-day lines, the short-term trend is still looking favorable. However, the MACD indicator is negative, suggesting that the upside momentum has weakened and there is potential bearish pressure. In the short term, look for short entries around 77800-78500, and consider shorts around 76000-75000.
The current market is in a consolidation period before a direction is chosen. Although the moving averages are above the 20-day and 50-day lines, the short-term trend is still looking favorable. However, the MACD indicator is negative, suggesting that the upside momentum has weakened and there is potential bearish pressure. In the short term, look for short entries around 77800-78500, and consider shorts around 76000-75000.
