View $BTC 28/03: the daily trend is still down, but after a strong drop yesterday, it's likely to rebound in the short term before continuing to decrease. Therefore, the main action today remains to short, but wait for a retracement to short rather than chasing it down.
- BTC has dropped deep into the 66k range.
- USDT.D has risen very high, so the overall picture is still a weak market, and money has not returned yet.
- The new point today is that BTC funding has slightly turned negative, OI is not building too poorly, and the heatmap is close to pulling the price up to 67k, even 67.7k. Therefore, today is not a good time to chase shorts at the bottom anymore.
In conclusion: the larger view is still down, but the priority is to wait for the market to retrace/rebound first.
Action plan:
- Do not chase shorts at the current level.
- Prioritize waiting for the price to retrace to the 67k range or higher, which is 67.7k–68.2k, to see the reaction.
- If there is strong resistance at these levels, then prioritize shorting according to the larger trend.
- Going long should only be considered as a technical retracement, not a trend reversal.
Priority scenario:
Price retraces to sweep the 67k range, even 67.7k, at which point we can consider shorting.
Note: The free materials I have are available on the te.le platforms, everyone can go there to download and use. Free