Main focus $BTC | Strategy: Short on rebound, tactic laid out first
Today it's $BTC's turn to be the star, direction is short on rebound. Current price around 83,340, short on rebound at 84,900-85,300, stop loss at 86,050, target first at 83,200, if broken down then target 81,474, leverage capped at 3x. Logic in one sentence: Today a big bearish candle wipes out the gains accumulated over five days, the 84,400-85,100 level, which acted as a stair-step support all week, is directly missed, a rebound back to this level is the entry ticket for short positions.
How lively is the market? Bulls are retreating with the atmosphere lights on, once it starts, the whole neighborhood knows it’s running, 13.5 billion U traded in 24 hours shouting hoarse. What’s more telling is that OI didn’t shrink but expanded to 99.38 million, price down but positions up, clear sign shorts are entering; funding rate slid from +0.0065% at the start of the week to -0.0022% turning negative, shorts are squeezing in willing to pay rent to get on board. This looks less like a shakeout, more like moving house.
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