$BTC The Mountain Retreat, Heaven above and Mountain below. There is a mountain beneath heaven: the mountain rises high and presses against the sky, so heaven naturally retreats. The Retreat hexagram is about taking a step back first—don't stubbornly hold your ground halfway up the mountain. Wait for a rebound into resistance, then short.
Bitcoin is currently around 77,491, with a 24-hour high near 78,756 and a low near 76,261. It tested the high last night, then probed the low; the daily close recovered to around 77.3k, and the current price is still hovering around 77,500. The macro backdrop turned cooler overnight, and the Bo hexagram context of the Xu month is still in place. I’d rather wait for the chart structure to offer an entry than try to catch the bottom.
I’d rather wait for a rebound into the 77.97–79.1k range and short in stages:
Entries: 77,970 / 78,425 / 79,093 (scale in across the range)
Stop-loss: 82,200 (with some extra buffer beyond the structure)
Take-profit 1: 76,261
Take-profit 2: 75,977
Take-profit 3: 75,000
At the first take-profit, close half the position and move the stop-loss to breakeven. If it doesn't rebound into the range, stay out. If the daily candle closes below 76,261, switch to a breakdown short and set this plan aside for now. The next milestone is the Start of Winter on November 7; the key thing to watch this week is where the weekly close on November 2 lands relative to 77,500.
With a mountain beneath heaven, retreat when it’s time to retreat. Do you think Bitcoin will rebound to 78.4k first and give you a short entry, or break below 76.3k first?
Follow me for updates. These are my personal views, not investment advice.
Bitcoin is currently around 77,491, with a 24-hour high near 78,756 and a low near 76,261. It tested the high last night, then probed the low; the daily close recovered to around 77.3k, and the current price is still hovering around 77,500. The macro backdrop turned cooler overnight, and the Bo hexagram context of the Xu month is still in place. I’d rather wait for the chart structure to offer an entry than try to catch the bottom.
I’d rather wait for a rebound into the 77.97–79.1k range and short in stages:
Entries: 77,970 / 78,425 / 79,093 (scale in across the range)
Stop-loss: 82,200 (with some extra buffer beyond the structure)
Take-profit 1: 76,261
Take-profit 2: 75,977
Take-profit 3: 75,000
At the first take-profit, close half the position and move the stop-loss to breakeven. If it doesn't rebound into the range, stay out. If the daily candle closes below 76,261, switch to a breakdown short and set this plan aside for now. The next milestone is the Start of Winter on November 7; the key thing to watch this week is where the weekly close on November 2 lands relative to 77,500.
With a mountain beneath heaven, retreat when it’s time to retreat. Do you think Bitcoin will rebound to 78.4k first and give you a short entry, or break below 76.3k first?
Follow me for updates. These are my personal views, not investment advice.
