Wednesday Morning Trading | Primarily Shorting, Momentum Begins to Weaken

Currently, Bitcoin is not suitable for chasing longs at this position; the trend is leaning towards shorting! After the May Day holiday, the market did experience a stepwise upward movement, but now it has reached above 81,000 in the high zone, and the difficulty of pushing higher is clearly increasing. Overnight, there were multiple attempts to test the highs, but none of them continued. This kind of movement essentially is — pressure from above, room below. The trend is still there, but in the short term, it’s no longer suitable to chase longs.

Trading Strategy:
Don’t chase longs at high levels, first short on pullbacks
Shorting Range: 81,500 – 82,200
Stop Loss: Above 82,800
Target: 80,000 → 79,000

At high levels, it’s easiest to attract longs; don’t chase just because it surges. Currently, Bitcoin is repeatedly facing resistance at high levels, and short-term momentum is beginning to weaken. Don’t chase longs now; follow the rhythm and wait for a pullback, then consider the next move.
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