Bitcoin Short Selling Strategy Analysis

The current price of Bitcoin is 94,400, it's time to position for a short. From the market trend, it is highly likely that we will see a sharp drop today, don't hesitate, decisively take action to short.

Although there was a strong rebound in Bitcoin overnight, don't be misled by this appearance; this rebound is merely a 'smoke screen' before the drop, just to build momentum for a more severe decline.

On the daily chart, Bitcoin is clearly being suppressed by the moving averages, struggling to stay below them, which act like an unbreakable fortress, presenting a huge obstacle to upward movement.

Fan Ge has also emphasized not to blindly follow the market, going long when prices rise and shorting when they fall; this simplistic and brutal approach may yield some short-term gains, but in the long run, it will only exhaust you, resulting in minimal profits.

Looking at the weekly chart, we are still under high pressure; this small overnight rebound is fleeting, hardly causing any significant waves, and cannot change the overall downward trend.

Specific operational strategy: boldly open a short position at the current price of 94,400, while setting a protective stop at 95,500 to prevent unexpected market reversals, aiming for a profit target of 92,000 to capture this potential downward opportunity.

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