Thanks to everyone in the chat for your trust! I’ve held firm on my short for 30 hours and made 9 trades for profit! The price is currently down 2,300 points!
Here’s why it’s falling:
Yesterday, Bitcoin surged above 81,000, and lots of people were calling for it to go straight to 100,000. But I went against the move and opened a short at 80,600. The reason is simple: this rally was driven entirely by election-related optimism coming to fruition and forced buying from short liquidations. There was no spot-market money supporting the price. Above 81,000 was a classic false breakout designed to lure in buyers. The rally clearly ran out of steam near 81,300 and turned back down. Entering at 80,600 now means we have confirmation that selling pressure overhead is extremely heavy.
On top of that, the U.S. nonfarm payrolls data comes out tomorrow night. Big money won’t push prices higher right before a major macroeconomic test; most likely, they’ll take profits and play it safe. This rally has trapped plenty of bulls who chased the price from lower levels. As soon as the market pulls back, stop-loss orders will cascade and trigger a sell-off.
Shorting at this level offers an excellent risk-reward ratio. Just place your stop above 81,500. The first downside target is the support around 78,000. Remember, this trade is about catching a pullback as macro optimism fades and the short squeeze runs out of steam. Make sure you use a stop-loss, and don’t let a losing position run! $BTC #BTC走势分析
Here’s why it’s falling:
Yesterday, Bitcoin surged above 81,000, and lots of people were calling for it to go straight to 100,000. But I went against the move and opened a short at 80,600. The reason is simple: this rally was driven entirely by election-related optimism coming to fruition and forced buying from short liquidations. There was no spot-market money supporting the price. Above 81,000 was a classic false breakout designed to lure in buyers. The rally clearly ran out of steam near 81,300 and turned back down. Entering at 80,600 now means we have confirmation that selling pressure overhead is extremely heavy.
On top of that, the U.S. nonfarm payrolls data comes out tomorrow night. Big money won’t push prices higher right before a major macroeconomic test; most likely, they’ll take profits and play it safe. This rally has trapped plenty of bulls who chased the price from lower levels. As soon as the market pulls back, stop-loss orders will cascade and trigger a sell-off.
Shorting at this level offers an excellent risk-reward ratio. Just place your stop above 81,500. The first downside target is the support around 78,000. Remember, this trade is about catching a pullback as macro optimism fades and the short squeeze runs out of steam. Make sure you use a stop-loss, and don’t let a losing position run! $BTC #BTC走势分析
