The calm before the storm? This bullish candle is a bull trap, with a target to break through $58,000!

Don’t be fooled by the small rebound over the past two days. The rise is just an illusion; the fall is the true direction.

This uptrend is not driven by major players buying in, but by short sellers closing their positions and exiting, temporarily creating a “dead cat bounce.” Technically, Bitcoin is still in a downward channel, and the MACD indicator has no strength to form a golden cross upward—there’s simply no volume from the bulls.

Looking at the liquidation map, there’s a pile of short orders above $60,300-$60,600. Major players may first spike upward to liquidate these shorts, then reverse downward. Meanwhile, around $58,000 below, there are plenty of long stop-loss orders. Once that level breaks, it will trigger a chain liquidation, and the price will crash like a waterfall.

The news is even worse. This rebound is propped up by futures, while the spot market has been seeing outflows. Institutions aren’t buying the dip; instead, they’re using the rebound to offload. ETF funds have seen net outflows for over ten consecutive days, with a total of $4.4 billion exiting in June. Without genuine capital backing, any rise is just a paper tiger.

In terms of strategy, continuing to short around $60,000-$60,500 is viable. Remember, $58,000 is not the bottom. After it breaks, once the leverage is cleared, that’s when you can truly pick up bargain chips. Don’t rush to catch the falling knife now.

‍$BTC #Strategy拟回购股票涨超12%