Huazi on the Market: BTC Midday Viewpoint

Currently, Bitcoin (BTC) is trading in a sideways range at the higher levels, using sideways movement in place of a decline. There is no one-way weakness, and no strong breakout either. This is a typical technical repair phase in the middle of an uptrend, and the overall trend structure still remains healthy.

From the chart ranges, the current price is repeatedly oscillating around the central pivot near 77,000. The long and short sides are extremely evenly matched. The short-term heavy resistance above is concentrated in the 77,800–79,000 range. This is the recent area with dense trapped positions. Every time the bulls push higher, they encounter heavy sell pressure, making this the core resistance that the price cannot break through in the short term. On the downside, the core short-line “life line” support is locked at the 77,000 level—this is the key defensive zone for this round of consolidation.

On the technical cycles, on the four-hour chart the candlesticks continue to alternate between bullish and bearish, with shrinking real bodies. Market volatility keeps narrowing. The selling volume behind the downswing continues to drain out, and the bears do not have the momentum to keep slamming the price lower. The MACD indicator is currently below the zero line; bearish momentum continues to weaken, but the bulls have not yet formed an effective golden cross to launch a counterattack. This is also the core technical reason why the market keeps chopping sideways and has yet to break out. On the daily chart, the rising channel is completely intact. The moving average system is overall trending upward, and the medium-term bullish trend has not been broken. At this stage, pullbacks are merely wash-and-repair adjustments, not a trend reversal.

Operation suggestion:
Buy in batches at 77,300–77,500

Target
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