#我在Gate广场过新年 Bitcoin consolidating sideways, still in a rhythm of stirring things up. Next week’s high-altitude shorting strategy remains unchanged!

Currently, Bitcoin is around 68,200, with two consecutive small bullish candles on the daily chart. The KDJ lines are converging to form a golden cross upward, RSI is turning up, and the MACD bullish momentum continues to expand. However, the price has not been able to push much higher, the Bollinger Bands are narrowing, with the upper and middle bands opening downward, while the lower band is opening upward and rising. For short sellers, beware of market rallies that could liquidate short leverage. For long positions, be cautious of the market enticing more longs with slow gains; recent movements have been slow rises followed by sharp drops. If you have profits on long positions, remember to take partial profits and reduce your position gradually. If you are trapped in long positions, exit promptly to cut losses! The weekly KDJ is flat and slowing down downward, RSI is turning down, and the MACD bearish momentum continues to expand. The overall trend remains bearish.

The market found support at 59,800 and rebounded. After reaching a high of 72,300, it formed a small downward channel, with a low retracement to 65,081 before bouncing back. After the rebound to around 70,938, it faced resistance and formed another small downward channel, with a low retracement to 65,595 before stabilizing. Currently, the market is in a correction and rebound phase. As shown in the chart, there is a possibility of forming an irregular W-shaped pattern, with two lows at 65,081 and 65,595, and two highs at 70,938 and 72,300. Next week’s high-altitude shorting should focus on this area. Below 70,000, there’s no need to rush into short positions, as the second downward channel has not broken the previous low, making a rebound and testing resistance more likely!