btc today's operation strategy update
A big bullish candle comes to meet us like an army?
The market's explosive rally is quite unusual; from a more objective perspective:
The significant rise has led to short positions being closed
Why do I say this? Looking at the 8-hour chart, demand is gradually shrinking, and there are no buyers entering the market.
Although the 4-hour chart has not completed, it has already formed a long upper shadow.
The 15-minute chart also shows a huge volume, which reflects that the buying power has been exhausted ahead of time.
The following two 15-minute candles are both low-volume short candles, indicating that there is no demand entering to follow.
Now we are at the bottom of the weekly and 4-hour downtrend platform; at this stage, we should focus on demand.
However, after the big bullish candle with explosive volume, demand suddenly becomes very weak, which is a warning signal that the market is about to change direction. It also proves that the short positions' temporary closure caused this situation; the trend cannot be sustained.
Then the last 15-minute candle shows a volume drop; supply begins to expand, and long positions must take profit and exit. Short positions can enter now.
The upcoming trend still looks bearish, with a focus on shorting. It is also the best time to short.
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