Bitcoin has basically entered a consolidation phase today, and it’s unlikely to see a significant market move in the short term. Market observation shows that currently, some small algorithmic robots are repeatedly doing arbitrage to boost liquidity, while large funds have no obvious trading signs for now. My short positions are just holding for the moment, and I don’t plan to make many moves in the next couple of days. I’ll take some time to relax over the weekend.

What I want to remind everyone is that the altcoin sector is now quite risky. Many projects are starting to show horizontal trading patterns on the 1-hour chart to scam for fees. It looks tempting but is easy to get caught and cut. The recent surge that was supposed to rise has basically already done so. Entering now carries a risk-reward ratio that’s not very favorable.

Looking at Bitcoin’s recent high, it was basically established around 90,500. If there’s a new breakthrough later, we need to closely monitor this key resistance level.