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legend1234
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My $BTC 10x long position's floating loss has narrowed to 19%.
The average entry price is $86,460, and the position hasn't changed. BTC is currently at $84,836, with the loss shrinking from 22% to 19%, but it's still far from the entry price.
According to the current market conditions, the 1-hour EMA20 is around $84,750, and the RSI is about 50. The price has returned above the moving average, and the recent
jiaheshuo.okb
My $BTC 10x long position's floating loss has narrowed to 19%.
The average entry price is $86,460, and the position hasn't changed. BTC is currently at $84,836, with the loss shrinking from 22% to 19%, but it's still far from the entry price.
According to the current market conditions, the 1-hour EMA20 is around $84,750, and the RSI is about 50. The price has returned above the moving average, and the recent hourly candles have pushed from $84,500 to $84,800, though it was blocked once near $84,950. First, it needs to close above that, then we look at $85,700.
Perpetual positions have decreased by about 3.1% compared to roughly 23 hours ago. This rebound mainly happened during position reductions, more like short covering. For the rebound to go further, I need to see price and positions increase together; the funding rate is close to zero, and the longs haven't crowded yet.
Among OKX smart money, 21 are long and 11 are short, with longs accounting for 52.0% of the amount, indicating a bullish bias, but total positions have decreased by about $24.72 million in the past 24 hours. They don't say it out loud, but their actions are honest: bullish in words, but shrinking their bets.
High-level buyers are still selling, and long-term US Treasury yields are also weighing on risk assets, so the external environment isn't easy. If BTC can reclaim the average long cost of smart money at $85,704, then my position can truly breathe.
I'm watching $84,950 and $85,700 first. If the 1-hour breaks below $84,400 again, the rebound is basically in vain; if it breaks $83,900, the chicken leg meal will have to be postponed further.
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