$BTC 87370 did not pass; this short pullback is now starting to form a structure.
After making a new high on the 21st, it pulled back; today it touched 87280 again and pulled back again. The second high point has already been completed. Unless the previous high is broken, the longer it grinds, the easier it is to accelerate downward. It’s not that there are no good news. ETFs are still flowing in, and the shorts have just been squeezed.
But the Coinbase premium is negative; perpetuals are building up at high levels. It looks more like leverage pushing the price up—not real spot buying.
There’s a short around 86300.
Wrong: if it increases on volume and breaks above 87500, then leave immediately.
Right: first watch 85100, then 84000.
This trade is only for a pullback; not betting on a bear market. Do you think it will break the high here, or first pull back and give it up?
After making a new high on the 21st, it pulled back; today it touched 87280 again and pulled back again. The second high point has already been completed. Unless the previous high is broken, the longer it grinds, the easier it is to accelerate downward. It’s not that there are no good news. ETFs are still flowing in, and the shorts have just been squeezed.
But the Coinbase premium is negative; perpetuals are building up at high levels. It looks more like leverage pushing the price up—not real spot buying.
There’s a short around 86300.
Wrong: if it increases on volume and breaks above 87500, then leave immediately.
Right: first watch 85100, then 84000.
This trade is only for a pullback; not betting on a bear market. Do you think it will break the high here, or first pull back and give it up?
