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Bitcoin Evening Analysis
Bitcoin has been consolidating for a day and night—essentially, bulls and bears are deadlocked against each other, with neither side willing to give in first.
The longs are buying in, and the shorts are also covering, creating a stalemate where the market just churn sideways. Whichever side can't hold out and surrenders will determine the direction. When that happens, just follow the winners and trade with the trend.
Right now, shorting isn't particularly favorable—the funding rate has already turned negative. Those in the know understand.
Trading Suggestions:
• Breakout above 74197 with volume → Chase longs on the right side, targets at 75010-75983
• Break below 73720 with volume and failed bounce back → Chase shorts on the right side, targets at 72826-71459
$BTC
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