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Friends! How long has Bitcoin been grinding at 70880? Three days. Many people are panicking: Is it going to crash? Is it going to pump? Should I buy the dip? Should I short?
I'm actually feeling more confident. The longer it grinds, the closer a breakout is.
Let me share some real talk:
The macro cycle is still bearish. It dropped from 75998, bounced to 74011 but couldn't break higher. Now it's bottoming at 70880, which is just taking a breather after falling too much—not a reversal. MA60 is still pressing down from above, and the bulls don't have the strength to push north.
On the 4-hour chart, we have a converging triangle at the end point. Lower highs, higher lows, the volatility keeps narrowing. This pattern is like a spring compressed to its limit—ready to snap open at any moment. The breakout signal is very clear.
Ethereum is the same situation. Trading around 2165, stuck in the 2100-2200 range. MA60 is overhead, bulls can't break north, bears are accumulating strength south.
What I'm trying to say is: in this market right now, whoever moves first gets hit. It's most grinding before a breakout, but that's also when you absolutely cannot act recklessly. Wait for direction to confirm, then follow—no need to rush.
Thursday's trading plan:
Bitcoin: Short near 71300-71800 on bounces, target 70200-69000!
Ethereum: Short near 2180-2210 on bounces, target 2120-2060!