The prolonged sideways movement of $BTC is essentially a process of chip rotation. Major funds often drive the market in a direction where most traders end up losing. You can gauge the majority's sentiment through funding rates and the long/short positions on the order book. The current consolidation has lasted about three to four weeks and will likely continue. Scenario Analysis 1. Bullish Scenario: After a rebound, if it breaks the previous high of 8.25 and doesn’t quickly fall back, instead consolidating to absorb selling pressure → Bullish outlook, with a chance to hit new highs. 2. Bearish Scenario: If the current rebound fails and the price drops below the bullish engulfing candle → The market weakens, and short positions can be considered. If key support is lost, the price may quickly test lower lows. Trading Strategy 1. During the consolidation phase, with no clear trend, wait for a breakout confirmation. 2. If the rebound tests the resistance above 8.05, consider shorting with a stop-loss at the previous high. 3. Key threshold: If the bullish engulfing candle at 7.62 holds, the bullish structure remains intact. If the body of the candle is broken, the market will turn bearish.