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BTC/USDT is currently moving in the 77.2K – 78K range in a sideways condition after the previous decline.
From the 5-minute chart, the price briefly dropped to 77.2K then slowly rebounded. However, the upward movement still appears weak and has not shown strong momentum.
The 78K area becomes an important resistance. As long as there is no clear breakout, this movement still has the potential to be a retracement.
I focus on reactions at the support and resistance areas, avoiding entries in the middle of the range.
Conclusion: it's better to wait for confirmation rather than entering too early in a market condition like this.
#BTC #CryptoTrading #PriceAction #Gateio #CryptoMarketSeesVolatility $BTC
As long as the price remains below 78K, the potential for rejection still exists. But if volume starts to come in and a valid breakout occurs, the bias can quickly change.
Focusing on important areas like what you're doing is safer than guessing the direction in the middle of the range.