$BTC Our short positions need a boost of conviction
The 4-hour downtrend structure has yet to show a clear breakdown signal. The pullback in unrealized profits caused by brief wicks is a normal shakeout in a trending market. Our earlier thesis of a daily-level pullback under resistance still holds. There’s no need to blindly close positions because of local price swings; every rebound into the resistance zone offers a safe opportunity to add to short positions.
The 4-hour downtrend structure has yet to show a clear breakdown signal. The pullback in unrealized profits caused by brief wicks is a normal shakeout in a trending market. Our earlier thesis of a daily-level pullback under resistance still holds. There’s no need to blindly close positions because of local price swings; every rebound into the resistance zone offers a safe opportunity to add to short positions.