First, Bitcoin is still consolidating and oscillating in the range of 84,000-86,000 according to our analysis.

Yesterday, we also mentioned to be cautious of this area as it could induce a long position, which revolves around 86,000. We said that as long as it doesn't break 86,000, we can still consider positioning for a short.

Of course, this area also successfully executed a quick drop yesterday, catching many bulls off guard.

Many people stopped out after this candlestick appeared, and after a long period of consolidation and oscillation, the price has now returned above 85,000. From the overall situation, first of all, from the perspective of the current moving averages, all candlesticks are above the moving average price.

Currently, the short-term trend still shows a bullish signal, and we need to pay attention to the breakthrough situation at the integer level of 86,000.

If this point cannot break, there is still a possibility of a downward move. Therefore, we can set a small stop loss and bet on a short position; a small stop loss is sufficient here as it is the third time coming to this level.

Next, we can bet with a very small stop loss. For the rest, we will just wait for the breakthrough situation in this area. After consolidating in the range of 83,000-84,000, it will definitely choose a direction, whether to break upwards or downwards.

We need to observe how the market moves. If it breaks upwards, we should focus on the key levels of 88,000-90,000, and then pay attention to the range of 93,000-96,000. Currently, it is consolidating and oscillating in this range. If it continues to move downwards, this area may break, forming a double top pattern.

If it moves downwards, we still need to pay attention to the integer level of 80,000. We can position for long positions around the integer level of 80,000. If it breaks below 80,000, we will need to re-establish our trading plan.

Overall, Bitcoin's trend is slowly warming up. If it stabilizes at this level, it is likely to move upwards.

If you are currently confused about trading, feel free to follow our public account: KK Strategy

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