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【BTC About to Surge?!】
Maintaining the same view as a few days ago, still expecting BTC to rebound to the $75,000–$80,000 range.
The market has entered a prolonged sideways consolidation phase, with space continuously shrinking. When the trend "can't hold sideways," it often indicates that a direction is about to be chosen. Currently, the more likely scenario is an upward breakout, so be patient and wait for a large bullish candle with high volume.
Continue to follow the plan for trading, with less fussing and more patience. Once the market starts moving, there usually won't be much time to get in.
Bitcoin has been maintaining a range-bound movement, showing relatively weak performance. Currently, market sentiment is very poor, with the fear index hovering at a historic level. Most cryptocurrencies' funding rates are in negative territory. Retail investors are hesitant to enter the market, and many are cutting losses and exiting amid the oscillations.
At this time, we should instead pay attention to buying opportunities. At the very least, we should hold onto our current positions. When things reach an extreme, they often reverse; a major rebound is highly likely.
After a rapid decline, the bears are starting to exhaust their strength. Without a strong upward push, it will be difficult to see significant upward space.
In summary, the lower end of the 65,000 to 74,000 range, around 65,000, is a good risk-reward zone. Stop-loss can be set below 64,000. However, if the daily closing price's real body breaks below 64,000, we should be cautious of the possibility of resuming a downward trend.
In terms of technical analysis, the outlook remains for oscillation and rebound. After some back-and-forth, Bitcoin has formed a bottom divergence on the 4-hour chart and has confirmed a golden cross. Be patient and wait for a rebound!