BTC
The long-term trend of the daily line has been stagnant again since it reached a high point last Friday. On Saturday and Sunday, it closed with a cross star and a small negative line, and was once again accompanied by sluggish volume and exhaustion of bullish momentum. Although market stagnation is common for weekends, we have to carefully consider the risk of a weakening market.
In the medium-term trend, around the reversal of the bearish AB=CD pattern, the price continues to trade sideways near 65835. Although there is no clear and reliable reversal signal and no reliable structural characteristics, it can indicate that the market has begun to turn to the short side, but the reversal price stagnation based on the bearish harmonic pattern is still worthy of our vigilance. If the price continues to fall below the low point, then the probability of subsequent turning to the short side is high.
In the short term, the messy and disordered trend in the sideways state is maintained. Before a clear structural feature is formed, the benefits of both long and short positions are less than the risks, so we remain on the sidelines.
