Next Week Market Trends and Long-term Positioning

Today’s market continues to fluctuate within a range. Currently, BTC is maintaining a triangle consolidation pattern, and the long/short directions are still unclear. It is recommended to wait for an effective breakout signal before entering. As long as it does not fall below the consolidation range, the downside is limited; if it effectively breaks down, the first support area is around 651.

If this area stabilizes, a technical rebound is expected; if it is directly breached, the target below is 638

To reverse the current weak sideways consolidation, BTC needs to hold above 673—only then can the selloff be halted and the market stabilize; otherwise, the weak oscillation will continue. After holding above this level, the rebound target is expected to reach 691.

Previously, BTC has tested the 673 resistance level four times and failed to break through each time. Bullish momentum is gradually fading, and there is insufficient self-driven upside energy. If this fifth test still cannot hold, the bullish structure will weaken. It will be necessary to pull back downward to activate buy orders, or to wait for external favorable news catalysts, in order to break the deadlock.

Trading Suggestions
Set up shorts within the BTC 675-681 range, targeting down to 665-651-638. Tonight, “Yellow Hair” again made comments, which makes me even more convinced about my bearish outlook—any rebound is a chance to short, my dears #Gate广场四月发帖挑战