67K is the ceiling! $BTC can barely hold 68K, yet you want a reversal? The longer the oscillation, the deeper the drop!👊
Ladies, today BTC is showing some movement, bouncing from 64.7K to 67K at one point, many people are getting excited again. But I advise you to stay calm—open your eyes and see, it can't even get past 68K, how is this a reversal? This is a standard continuation of the downward trend!
Why is it still necessary to go short? Three hardcore logics:
1️⃣ Last night's surge was a "short squeeze," not real buying interest.
That wave indeed exploded a lot of shorts, with 86,000 people liquidated across the network. But this type of spike rebound is often deliberately pulled by the leading forces to eat up leveraged shorts; the purpose is not to go long, but to clear out the opposing positions, making it easier to continue hammering down later. On-chain data shows that the funding rate is still negative, indicating that smart money is not bullish at all.
2️⃣ Technical aspect: 67K-68K is a death zone, can't get past it.
Look at the current K-line, BTC starts to oscillate sideways as it approaches 67K, with 68K-69K as an iron top. Analyst Michaël van de Poppe also mentioned that as long as it can't get back above 70K, the market will eventually test the previous lows. The cost-effectiveness of going long at this position is extremely low, with all the trapped positions waiting to crush you above.
3️⃣ Macro situation remains tight, liquidity hasn't returned.
U.S. stock futures are still falling tonight, and crude oil has soared to $103. With such strong risk aversion, funds will only flow out of risk assets. Last night’s drop to $64,785 has already broken through the early month's low point; such a rebound after a breakdown is usually a trap for longs, the bearish trend hasn't changed!
My shorting plan:
· Entry range: 67,000 - 67,800, gradually laying out short positions.
· Defense position: above 69,000 (let’s talk about a reversal only if it stabilizes here).
· First target: pull back to 65,000 support.
· Second target: if it breaks down, look down to 64,200 - 63,500.
Conclusion:
Remember one thing: in a descending channel, rebounds are meant for shorting, not for bottom fishing. Last night’s spike has already exhausted the bulls' last strength; next, it's a slow boil to 64K!
Hold on tight, wait for the wind to come. This round of shorts will yield good returns by the end of the month. Share in the comments whether you are bullish or bearish now?👇
