BTC has been range-bound for days and, in the meantime, many have tried to short it, only to get stopped out. But the picture hasn’t changed: we’re still trading within a range. Until there’s a confirmed breakout, chasing a direction whilst the market is range-bound means exposing yourself to market noise.

On the 12-hour chart, I’m keeping an eye on the support zone around 80k and the resistance area between 83500/84k. A decisive breakout above resistance could finally provide some direction and open up room towards the upper end of the range, in the 88k area. If, on the other hand, support gives way with confirmation, the scenario changes and the price may test lower levels.

Otherwise, I would focus on intraday trading: trading reactions at key levels, waiting for a trigger and managing risk. No short positions just because the price isn’t rising, and no long positions just because it’s rebounding. In the middle of the range, we wait; at the extremes, we assess the price action.