Today's Market Overview After looking at the big picture, let's return to today's intraday action... This wave of consolidation will feel different in terms of trading difficulty depending on individual trading styles. (Image 1) If you usually focus on liquidity (SMC/ICT strategies), you might have found the previous wave easier to trade, as it was full of SFPs and fake breakouts. But this wave is almost devoid of those, with forced moves around highs and lows instead. On the other hand, if you simply focus on highs and lows and use previous highs/lows for stop-losses, you might find this consolidation easier to trade... ------------- This type of consolidation usually ends with a massive liquidity buildup on both sides... When the price finally breaks the previous highs or lows, the probability of a true breakout leveraging that liquidity will be higher. In simple terms: "Building up for a big move." -------------- Today's funding situation: Coinbase premium was slightly positive before the session but turned slightly negative during the session... The inertia from the inflows over the past couple of days is still present. The current small negative premium during the session doesn't necessarily mean outflows are happening—it could still indicate minor inflows overall. Based on the current situation (Image 2): --------------- Looking at the current order book (Image 3): During the Asian session, there was a spike, and above 87k, a ton of contract sell orders suddenly appeared... The lack of buy orders meant the price hit the first sell wall and got pushed back down. From the spot and contract orders, it seems we're still stuck in the 84-87k range... The movement within this range will likely be quite random—hard mode. Also, 20 minutes ago, a large batch of buy orders appeared near 85.8k on spot... Need to watch closely to see if this is spoofing. Considering the current Coinbase premium, the probability of breaking higher today still seems relatively low... ---------------- Today's plan is mainly to observe... For short positions at the top, I'll watch for signs of absorption at the contract sell walls or entry model opportunities. (The sell wall was already tested once during the early morning spike.) Recent market entry models have been more challenging—for example, this morning's setup required SL to be placed above the first sell wall to avoid getting stopped out. See Image 4. For long positions at the bottom, the recent spot buy walls near 85.8k are worth noting. But since the price has already moved up, there's no point waiting there anymore... Let's keep watching for further reactions.