In the previous issue, we talked about whether Bitcoin could break through the dynamic resistance above, which was a cause for concern. After observing yesterday's trend, we saw that the price once again traded sideways and closed lower, failing to continue the upward trend. Currently, it has returned to a period of consolidation near 60,000, and as time goes on, the bullish momentum continues to be eroded, making the task of breaking through the resistance above increasingly urgent.

The anticipated mid-term continuation of the uptrend did not materialize. Instead, after a second failed attempt to move higher, it entered a period of consolidation. The trend has been oscillating continuously for half a month, making it difficult to trust either the bulls or the bears, and causing the market rhythm to become chaotic. The mid-term trend has once again returned to disorder.

The short-term trend has maintained a back-and-forth pattern between the bulls and the bears. Although short-term trading is generally considered risky, the bearish sentiment is still strong for intraday trading. Short-term traders should be cautious and manage their risks.

Strategy: Wait and see

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