Is the big drop starting? Will Bitcoin fall to 70k? Major changes are coming next week, so let’s take a look. 1. First off, Bitcoin's current trend is approaching the 83k resistance level and is starting to pull back significantly; we’re just getting started. This pullback might ultimately reach 77k, but let’s not rush it; we should first watch the previous highs around 79-80k for support. So, can we still short now?
2. I think any substantial bounce is a chance to get in. In fact, BTC's larger drop might happen after next Wednesday. This is because Trump is tentatively scheduled to visit China next Thursday, and the crypto market and US stocks might not drop smoothly before his visit; there could be one or two bounces in between.
3. Therefore, our short strategy isn’t aggressive; I plan to take some profits just above 80k, locking in 2000 points, and see if there’s a bounce before continuing to short. I’ll hold onto other short positions for the long term. Then, by next Wednesday at the latest, I’ll look for a good entry to add to my shorts, since historically, after each visit to China, it’s likely that US stocks will exhaust their positive momentum and start to pull back, and the crypto market is very likely to follow.
4. We’ve been discussing this resistance around 83k for a whole week, and I believe everyone has already entered. As shown in the chart, we advised everyone to short at 82.5k a couple of days ago, confidently using a larger position to short down. The last time we shorted like this was at 79k, where we dropped 5000 points down to 74.8k; I believe this time pulling 5000 points profit won’t be an issue either.
5. Besides that, Shu Qin is also very focused on shorting crude oil, having already made a floating profit of 200k yesterday. I think any significant bounce in crude oil is a good opportunity to enter a short position; as long as you’re not greedy with leverage, you’ll eventually succeed. Opening positions in real-time every day~
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee.See T&Cs.
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