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#BTC This spot is pretty funny, too.
You say it’s in an uptrend—each time it only breaks to a new high and then just manages a few hundred points more.
And the pullbacks are quite brutal; after a crash, it explodes upward.
You say it’s ranging—but it’s been continuously breaking to new highs.
Anyway, I’m shorting in batches. I’m taking a high-level range-bound move as a substitute for a drop.
Even if it really goes to 68-71, I’m not panicking—I’ll keep shorting. The longer it drags on, the lower the probability that this expectation plays out.
Because in a bear market, the dominant force is the shorts—any rebound has its limits.
With global macro conditions not doing well, dip-buyers only dare to take a bite and run. Who are you expecting to keep paying money to prop up the market nonstop?