Recently, the funding situation has indeed been a bit cold, with Bitcoin encountering a large accumulation of sell orders above 90k. To continue rising, the bulls must absorb all the sell orders at the 91k level; otherwise, the market will fall into a range-bound oscillation between 85k and 91k.

This range has persisted for 16 days, which is actually good for swing traders—short at resistance, long at support, and profit from both ends.

From exchange data, the current long-short ratio is still relatively balanced, but the short positions are noticeably more numerous. This indicates that most people are cautious about the short-term market, betting that the market can quickly break through the 85k support and further decline to 80k.

I personally lean bullish, at least expecting a rebound within a small range. The market still needs time to consolidate, and based on the trend, the direction should become clear by the 31st of the month. For now, the focus remains on long positions at lower levels.