BTC is extending its rebound after fully reaching the "Triangle" target of $81,347 yesterday, which we wrote about on Wednesday, October 7. Earlier, the local "Double Top" target of $82,139 had also been reached.

Ultimately, the short impulses built into these patterns have run their course. After a Strong signal of a potential low on the hourly timeframe, the asset is showing the rebound we expected even before the final sell-off.

And that was where we planned to add to the short. And we just added. BUT with a small amount for now, as we're concerned about the risk of the price returning to a sustained uptrend on the 2-hour timeframe (a new candle has just opened, and the downtrend is still intact), and, most of all, by the potential-low signal that appeared on the 12-hour timeframe.

We added to the short based on a very local signal—after a Strong signal for a potential high appeared on the 5-minute timeframe, while the price was making a higher high after that signal.

We added to the position at $83,190.30, as the price ran into liquidity zones on the lower, 5- and 15-minute timeframes. This moved our breakeven price from $77,900.50 to $78,582.08. We increased the position slightly, and the liquidation price is now $90,355.35. For now, this is NOT our main addition to the short, but an interim one in case we don't get a more substantial bounce.

Given that, according to our indicator, the asset moved into a sustained downtrend on the 12- and 18-hour timeframes yesterday and today, we believe that a short is a promising option right now.

And if the rise continues, we're ready to add to the position, BUT only if the price maintains a sustained downtrend on the 3-hour timeframe. If an uptrend is restored on that timeframe, we'll pause adding at least until the price tests the level where the downtrend could potentially break on the 12-hour timeframe: $85,365.

Overall, the downtrend on the 18-hour timeframe is still in force. For us, any significant local high during a bounce is a reason to add to the short. This is in light of the higher-timeframe signals we've written about more than once before the dump: numerous potential-high signals on the 3-day and weekly timeframes. The recent dump still hasn't played them out; their potential is stronger.

❗️️️️️️️Yesterday, we also analyzed the assets in our spot copy-trading portfolios and set alerts for potential buys. We've decided to focus on the 50 and 200 EMAs on the higher timeframes. We'll try to give you advance notice of purchases.