BTC Market Update: Riding the Waves with Chanlun Strategy
The bullish momentum yesterday was significantly insufficient
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BTC Market Update: Riding the Waves with Chanlun Strategy
The bullish push we saw yesterday didn't quite have the "oomph" needed to clear the path. For a truly healthy recovery, we really need to see BTC hit that $72,000 mark, followed by a shallow pullback that holds steady above $69,000.
Right now, the direct slide back toward $68,000 shows a lack of strength. Looking at the current retracement through the lens of internal structures, the market is carving out a "balance area." This tells us the volatility isn't over yet, and there’s a real risk of further downside before we find a solid floor.
Survival Guide for the Current Market
The current rhythm is choppy and lacks follow-through. It feels like the market makers are specifically targeting traders who "marry" their positions. Here is how to handle it:
Ditch the Long-Term Bias: This isn't the time to hold out for a massive pattern to play out.
Take Your Wins: Once the move for this specific level is done, get out. Don't wait for "one more green candle."
Follow the Trend, Then Exit: Trade the immediate direction, but close the position as soon as the technical structure looks complete.
Don't Get Emotional: The market isn't your friend. Trade the chart, not your feelings.
The Bottom Line: We are seeing back-and-forth price action without much continuity. Stay nimble, keep your stops tight, and don't let a winning trade turn into a losing one by overstaying your welcome.