Foresight News message: Whale jasonleo posted an update on his Bitcoin short position. He said that after the previous short was closed, he rebuilt the short position around $76,000. The logic is that although this bull run has returned, it should be a sideways upward move rather than a straight surge to $84,000 or even $90,000. At the moment, from the macro picture and market structure, there are no signals supporting this kind of move. After opening the position, the price briefly surged to $79,500. The originally planned stop-loss could not be executed because the system did not fill the order.

He said that he has already cut down the vast majority of the short positions. This does not change his view; it’s just that he’s managing risk first. If the price keeps rising aggressively, $82,000 and $84,000 are both possible. The remaining position will continue to be monitored. If the daily candle closes validly above $80,500, it will be considered a mistake and he will close everything and pause trading for a period of time. If the price turns weaker again, he will consider adding back the short positions that were reduced. At this level, he has no interest in chasing longs again.

He added that when the price was near $63,000 last month, he had already determined that this area was a temporary bottom. That assessment has not changed to this day. He remains bullish on BTC in the long and medium term. This short bet this time is about a pullback during an upward move, not a renewed bearish outlook. He said that in March next year, he will still see BTC at $100,000.