【$BTC Signal】Short position, wait for downward momentum to exhaust

$BTC is experiencing a sharp downward release, with four-hour candles closing bearish consecutively, and the price has broken below a key support zone. The funding rate turning negative indicates a collapse in bullish sentiment, but the order book depth shows sell orders accumulating above 66,200, creating significant resistance to a rebound.

🎯 Direction: Short position (NoPosition)

The current market is clearly in a downward driving wave. The last 4H candle with increased volume broke below the previous low, but the RSI has entered oversold territory. Market logic suggests either a short squeeze or major players offloading, and we need to wait for two signals: 1. The price at a lower level (such as 65,000-65,500) shows a clear 4H-level reversal candle (long lower shadow or bullish engulfing). 2. Or the price rebounds to 67,500-68,000 (former support turned resistance) and shows signs of stagnation, then a reverse trading strategy can be considered. Currently, the risk-reward ratio for shorting is unfavorable, and bottom-fishing is akin to catching a falling knife. Be patient and wait for the market structure to rebuild and selling pressure to diminish.

Trade 👇 $BTC

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#Is the current market bottoming or just observing?