Bitcoin has a very high probability of a false breakout today.


The funding rate has been positive the whole way; there hasn’t been a sustained stretch of negative funding to force a squeeze back into positive—this looks like a brief “bullish afterglow.”
I’m still holding the short position I reopened at 66k last week. In fact, I also had a lock-in order at 62.4k, but after the rebound by only a few hundred points, I closed it—basically squaring up the bullish side.
This still requires more learning. I originally expected to at least lock in at 64 before running.
But it’s not a big problem. My plan is to hold the short trend through October, or close if Bitcoin breaks 50k—that’s my expectation. Even if it doesn’t break 50k, I’ll still hold until October to close.
BTC0.93%
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