During the current bounce, we added a little more to our speculative BTC short. As a reminder, our previous addition was on October 13, and after that we planned to add again only if the price fell into a sustained downtrend on the daily timeframe. However, the recent breaks of the uptrends on the 1-hour and 1.5-hour timeframes, without their targets being reached, were ultimately considered a sufficient signal to make another attempt to improve and bring closer our breakeven level.

With the add-on on October 13, we moved the positive breakeven level to $78,937.60. With the latest add-on, it’s now at $79,221.83. And the liquidation price has dropped from $89,116.78 to $87,608.34. As always with this stuck short after August’s bullish impulse, we’ll be ready to cover the added portion if the price moves against us and buyer-strength signals appear again.

The add-on was made at local extremes — a Strong signal of a potential high on the 5- and 10-minute timeframes, plus regular high markers on the 15-minute timeframe.

Given that the uptrends on the hourly timeframes mentioned earlier have already been lost, we’re treating this impulse as a short squeeze.

We showed in the screenshot how the price behaved after the previous Strong signal of a potential high on the 10-minute timeframe on Sunday.