Wednesday: Volatility Building Momentum, Weak Pullback Awaiting Breakout

After the market has gone through an all-night tug-of-war, it still remains in a consolidation state. The space for a pullback has not developed into a declining trend. In terms of rhythm, it still stays in a bullish continuation. The force of the downside move is not strong, and the dominant thinking is consolidation accompanied by a bullish bias.

Technically speaking, the smaller time frame is still an ongoing upward channel. After the price pushed higher and probed for highs, it turned bearish, but it has formed a certain amount of recovery. Although it has not continued with a strong bullish breakout, it is still gradually stabilizing and moving higher. Time is being used to convert into space.

In the short term, after the price surges to the high, it forms some range-bound consolidation, but there has been no downside breakout. Instead, it uses time to convert and accumulate momentum. Overall, the structure still remains a consolidation that leans toward an ongoing upward direction.

For today’s outlook, we keep a long bias at lower levels as the primary approach. If the higher levels do not continue, we may consider shorting to look for a pullback:

In terms of execution, my personal suggestion is to go long in the 80500-81000 area, and to look for a move from 81800-82300#比特币站稳8万关口 $BTC .