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Going short on Bitcoin right now? I think it’s a very risky idea. 📌
What I noticed yesterday is that we tested these levels, but there wasn’t really strong selling pressure. What’s strange is that the sellers themselves are pushing the price higher instead of suppressing it. This means there’s demand that’s present and strong beneath the surface.
If we break the previous resistance level, the situation will become dangerous for shorts. All short positions will be liquidated aggressively, and the price could soar upward quickly. Be careful if you’re hounna aal—holding a short position.