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BTC Short-term thoughts.
This wave of rebound reached the upper edge of the triangle but was pushed down by a spike. Yesterday, I planned to short at 82k, but it was slightly induced higher, so I missed the chance. It dropped by just over a thousand dollars, and now it's back near the lower edge of the triangle.
Interestingly, the previous lows around 78k were not touched several times, and the support at the lower edge is very strong, so it's not easy to break. The price is getting closer to the end, and the reversal is happening quickly.
From a liquidation perspective, there are some positions around 803k below, which have already been liquidated, so the willingness to push lower is not high. But it’s possible to induce long positions further down to hit stop-losses and then reverse.
My prediction: in the short term, retest around 80k, then go up to liquidate shorts above 82.5k. It might first induce longs and then push up again, creating a false breakout before truly heading down.
So if it spikes again near 80K, I might enter a position to try for a bit more. The target is first 81k, with a stop-loss at 79,500.
Waiting for community notification. #BTC $BTC