In the past 24 hours, BTC shorts were liquidated by $198 million (93% are short positions), with the price jumping from $65K to $67K. It looks fierce, but don't rush to chase.


Three steps to determine if this rebound can continue:
① Check the liquidation structure—93% short liquidations = short squeeze driving the move, not new funds entering. After shorts are cleared, buying power will disappear.
② Watch the open interest change—Open interest has recovered to $48.1 billion, new positions are opening, indicating some participants are re-engaging, but it's not enough to confirm a trend.
③ Look at RSI—4-hour RSI at 73.84 is overbought; historically, this level is likely to see a pullback.
Key levels: $65,300 is support (100-day moving average), $71,132 is the ceiling (200-day moving average). Holding $65,300 for a pullback is healthy.
One sentence: Short squeeze rises quickly, but it also limits itself. Wait for spot buyers to take over before following, and don't be the last long after a short squeeze.
#BTC #Bitcoin$BTC
BTC-3.00%
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