The bias is bearish, but I’m not making a move at this price. Chasing shorts will most likely get me trapped. CPI has beaten expectations for the third consecutive month, making a December rate hike almost a sure thing. Interest rates, the bubble, and token unlocks are all piling up, and the bearish factors haven’t been fully priced in. $BTC has plunged through $74,000, with a low just above $72,000. The daily chart is more oversold than at any point in the entire cycle—so extreme that even if you want to buy the dip, you should wait first. I’m not adding to my short at the current price. I’ll wait for a bounce to the target selling zone before increasing my position. Getting the direction right matters, but timing matters more. Chasing in now will most likely get you shaken out. Wait for the rebound first.