6.25 Bitcoin breaks 6, triggering a mass exodus of shorts and a price rebound that leads to further decline
Old Bao's Crypto Haven Episode 384:
This week, since Monday, we've been emphasizing
That Monday was likely to hit the weekly high before the price started a one-way bearish trend.
Last night's drop was so deep that it forced a lot of high-position shorts to exit, resulting in a surge in buying pressure and a price rebound.
After the price rebound, some of the shorts chasing below 6 were liquidated, allowing the price to continue rising and boosting bullish confidence.
Currently, this rebound may appear strong in the short term, but in the larger cycle, it remains in a bearish position.
Therefore, I believe the decline isn't over; there's still room for shorts to keep harvesting.
PS:
Long discussions on trends, short discussions on logic; in the trading market, the most valuable is trading logic, and the least significant is entry and exit points;
Daily videos are for reference only and do not constitute trading advice. Thank you for your continued attention and support for Old Bao's Crypto Haven.
Old Bao's Crypto Haven Episode 384:
This week, since Monday, we've been emphasizing
That Monday was likely to hit the weekly high before the price started a one-way bearish trend.
Last night's drop was so deep that it forced a lot of high-position shorts to exit, resulting in a surge in buying pressure and a price rebound.
After the price rebound, some of the shorts chasing below 6 were liquidated, allowing the price to continue rising and boosting bullish confidence.
Currently, this rebound may appear strong in the short term, but in the larger cycle, it remains in a bearish position.
Therefore, I believe the decline isn't over; there's still room for shorts to keep harvesting.
PS:
Long discussions on trends, short discussions on logic; in the trading market, the most valuable is trading logic, and the least significant is entry and exit points;
Daily videos are for reference only and do not constitute trading advice. Thank you for your continued attention and support for Old Bao's Crypto Haven.