11.12 Sister Xuan’s Bitcoin strategy: This rebound is just a dead-cat bounce; treat any rally as another opportunity to short at higher levels
Bitcoin is hovering around 73,600 and looks bullish, but this is just an oversold bounce. CPI came in above expectations, the 10-year Treasury yield has climbed back above 5%, and the market has largely priced in a rate hike in December. Liquidity remains tight, and ETFs are seeing outflows too: yesterday saw net outflows of about $30 million, marking four consecutive trading days of outflows. In this environment, a genuine Bitcoin recovery will be very difficult.
The technical picture agrees: 74,800–75,500 is a firm ceiling, and a rebound into this range will most likely be followed by another pullback. Volume is shrinking on the rebound and increasing on declines—a classic distribution pattern. The RSI hasn’t entered oversold territory either, and there’s no sign of a bottom.
So Sister Xuan advises against trying to catch the bottom right now. Consider shorting Bitcoin if it rebounds to around 73,500, with an initial target of 72,600; if that level breaks, look toward 71,000.
#黄仁勋再被曝与下属婚外情，或遭董事会罢免 $BTC $ETH $AAPLB
Bitcoin is hovering around 73,600 and looks bullish, but this is just an oversold bounce. CPI came in above expectations, the 10-year Treasury yield has climbed back above 5%, and the market has largely priced in a rate hike in December. Liquidity remains tight, and ETFs are seeing outflows too: yesterday saw net outflows of about $30 million, marking four consecutive trading days of outflows. In this environment, a genuine Bitcoin recovery will be very difficult.
The technical picture agrees: 74,800–75,500 is a firm ceiling, and a rebound into this range will most likely be followed by another pullback. Volume is shrinking on the rebound and increasing on declines—a classic distribution pattern. The RSI hasn’t entered oversold territory either, and there’s no sign of a bottom.
So Sister Xuan advises against trying to catch the bottom right now. Consider shorting Bitcoin if it rebounds to around 73,500, with an initial target of 72,600; if that level breaks, look toward 71,000.
#黄仁勋再被曝与下属婚外情，或遭董事会罢免 $BTC $ETH $AAPLB
