View $BTC 27/03: Still prioritizing short today, have not been able to catch a long bottom yet.
- BTC is still around 68.8k, still below the 70k area that was lost since yesterday. The current structure is a recovery but weak after yesterday's drop, the price has not reclaimed the upper resistance level. RSI is low, MACD is still negative, the bounce force is weak.
- USDT.D continues to be high indicating that money is still in stablecoins.
- Funding remains slightly positive.
- Short-term OI has started to rise again while the price is not strong, this is a type of market that can easily sweep down further.
- The heatmap currently shows that the area below 68K–68K5 is still the near target if BTC does not reclaim the 70k area.
In conclusion: as long as it stays below 69.8k–70k, the price will still decrease and the main view is short. Only when it clearly reclaims 70k will we discuss changing the view afterwards.