Bitcoin's Short-Term Volatility Fails to Alter Medium-Term Bearish Trend; HYPE Presents Another Buying Opportunity | Invited Analysis
Bitcoin (BTC) continues its short-term consolidation within a range, while the medium-term bearish trend remains intact. HYPE shows signs of completing its Wave IV correction, presenting a potential long opportunity.
Last week, BTC saw a 2.45% gain on a short-term short trade and a 22.43% profit on an ongoing medium-term short position initiated at $89,000.
For HYPE, technical analysis indicates its Wave IV adjustment is nearing completion in both time and price. A daily bottom pattern is strengthening, and quantitative models have triggered bottom warnings. The strategy is to go long on HYPE with 30% capital, looking for a breakout above $38 and a confirmed pullback support at $34.47.
BTC is expected to trade between $65,000 and $69,500 this week. A break above $69,500 could lead to a wider range up to $72,000, while a drop below $65,000 may target the $60,000-$62,500 support zone. The medium-term bearish outlook persists; the strategy is to hold the current short position and consider new shorts on rebounds toward $69,500-$72,000 or a break below $65,000.
All views are for informational purposes only and not investment advice. Market conditions change rapidly; trade with caution and proper risk management.
Odaily星球日报04/06 08:38