$BTC Now shorting Bitcoin, it's no different from just giving away money!!!

On April 17th, I told everyone not to chase the rally, and sure enough, it dropped from 78,300 to 73,700. But right now, if you dare to short near 74k, there's a high chance you'll get hit with a rebound and get your face slapped.

There are only three reasons, judge for yourself:

First, Bitcoin is now just a follower of the US stock market. The S&P futures dipped early in the session, but they didn't break short-term support, nor did they fall below the previous high. As long as the S&P keeps climbing, BTC's rebound won't stop.

Second, BTC itself hasn't broken out of its range. The drop to 73k looks fierce, but the rebound pattern remains intact. Institutions haven't left, so shorts shouldn't celebrate too early.

Third, and most importantly, between 79k and 86k, contract liquidations are stacked like a mountain.

Any slight upward lick in the market can trigger a massive short squeeze, and that would really hurt.

I've already closed most of my short positions at 77, waiting for the structure to complete before taking new positions.

Chasing shorts now is like licking a knife's edge—do as you see fit.