This rebound from $BTC 78,000—do you agree more with the view that short covering isn’t over yet and price could reach 78,800, or that without fresh buying, a retest of 77,000 is only a matter of time? Let me know in the comments. 🤙
#行情分析📈
Don’t chase longs near 78,000. The driver is short covering, not fresh buying; the fuel for short covering is running low, and fresh buyers haven’t stepped in yet.
There’s no need to rush into shorts either. Short positions have just been liquidated in a wave, and short-side crowding is easing in the near term. Chasing shorts could easily run into choppy price action near 78,800.
Wait for price to reach the edges. The 78,556–78,836 area above is the first zone to watch for a reaction. If price pushes up there but stalls on heavy volume, that’s a window to consider short-term shorts. Below, if 77,000 is retested and finds support, that’s a window to consider longs. In between, managing position size matters more than picking a direction.
#行情分析📈
Don’t chase longs near 78,000. The driver is short covering, not fresh buying; the fuel for short covering is running low, and fresh buyers haven’t stepped in yet.
There’s no need to rush into shorts either. Short positions have just been liquidated in a wave, and short-side crowding is easing in the near term. Chasing shorts could easily run into choppy price action near 78,800.
Wait for price to reach the edges. The 78,556–78,836 area above is the first zone to watch for a reaction. If price pushes up there but stalls on heavy volume, that’s a window to consider short-term shorts. Below, if 77,000 is retested and finds support, that’s a window to consider longs. In between, managing position size matters more than picking a direction.