$BTC đą
We continue to trade passively within a sideways channel, without any significant spikes. The market is âsimmeringâ in one place, building the necessary liquidity for the next breakout, which, in our case, should occur to the upside.
Right now, Iâm prioritizing a move toward resistance around $71K from the current sideways range of $68â64K. However, as Iâve noted before, this impulse like previous ones may not appear immediately, but only after an extended period of consolidation. This is exactly what we are starting to observe now.
Prolonged sideways movement increases negative market sentiment, gradually raising the number of short positions. Ultimately, this creates strong fuel for further upward movement, which, as usual, will go against the crowdâs expectations. This factor, combined with historical market fear, a strong prior sell-off, and historically oversold levels, should push the market higher in the near future.