Are you still shorting? If you are not trapped, who will be? I told my friends this morning not to go short. The bulls are very strong at the moment. It is not surprising that the price of Bitcoin has risen to 64,000. This is just a pre-emptive move. The US stock market may continue to rise in anticipation of the rate cut, actively driving the price of Bitcoin to rise.
Before this Friday, the bulls are strong, so pay attention to the resistance breakthrough. If the upward trend can continue next Monday, and the technical side successfully breaks through the decreasing pattern, then the imaginable space above may be larger.
Although the rate cut has brought optimism, it does not mean that there is no risk. As I said before, the sensitive rate cut cycle has started, but it is time to be more vigilant. At this time, opportunities and risks coexist. Seize the opportunity!
