In the next half month, BTC will enter a range-bound market rather than a trending market.

I have closed my long position of BTC at 63500 near 70500 for profit. Taking a break over the weekend, pausing contract trading.

Currently, BTC is neither up nor down. Based on the bullish volume and the accumulated buy orders in the order book, I believe the current price pullback is just a rebound consolidation. It is highly likely that it will continue to surge to around 74,500, and then only will it start a second bottoming above 60,000. Therefore, patiently waiting for BTC to rebound to around 74,500 to short BTC provides a better risk-reward ratio and certainty.

BTC has been consolidating in the range of 80,000-98,000 for 55 days before starting a new wave of downward trends.

Now BTC needs to fluctuate in the range of 60,000-75,000, which is estimated to take more than half a month. BTC is unlikely to drop directly from 75,000 to 40,000; it needs to oscillate and build up momentum repeatedly before it can drop deeper and more sharply.

Therefore, in the next half month or so, BTC is highly likely to enter a range-bound market rather than a one-sided trending market.