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Poet Yuan reminded everyone as early as Bai Pan: the selling pressure above is still heavy; this bounce is only a technical counter-rally!
Clearly advised to short in the 65,400-65,600 area.
What happened then? The market arrived as expected—dropping to a low of 63,666, perfectly playing out the more-than-1,600-point downside space!
How should we look at the next market?
Although this short trade was delicious, don’t blindly keep chasing shorts.
Currently around 64,050, there is a need for an oversold rebound in the short term.
Watch the support below: 63,800 - 64,000
If price can stabilize in that zone and close with a green candle, you can try a small-position long for a short-term rebound, targeting back toward the 65,000 area. $BTC $ETH