Regarding this BTC rebound, I still believe this isn’t a reversal.
Right now, Bitcoin is hovering around 63,600. It looks like a rebound, but over the past 7 days it has actually been falling.
There’s a lot of overhead resistance. Chasing longs at this level can easily turn you into another bagholder.
The Fear & Greed index is only at 26. But the long/short accounts ratio is 1.44—there are clearly more long accounts. Price hasn’t risen much, but there are quite a lot of longs.
In the last 30 days, it’s basically been trading in a range between 61,300 and 67,000. Until it truly breaks out, I’ll treat it as a range-bound rebound. I won’t turn a single bullish candle into a “bull market is starting” just like that.
Do you think this is a shakeout before a reversal, or a bull trap before the rebound ends? $VIC $HFT $HOME #SpaceX将公布Q2财报 #韩国股票杠杆ETF交易量骤降
Right now, Bitcoin is hovering around 63,600. It looks like a rebound, but over the past 7 days it has actually been falling.
There’s a lot of overhead resistance. Chasing longs at this level can easily turn you into another bagholder.
The Fear & Greed index is only at 26. But the long/short accounts ratio is 1.44—there are clearly more long accounts. Price hasn’t risen much, but there are quite a lot of longs.
In the last 30 days, it’s basically been trading in a range between 61,300 and 67,000. Until it truly breaks out, I’ll treat it as a range-bound rebound. I won’t turn a single bullish candle into a “bull market is starting” just like that.
Do you think this is a shakeout before a reversal, or a bull trap before the rebound ends? $VIC $HFT $HOME #SpaceX将公布Q2财报 #韩国股票杠杆ETF交易量骤降