Bears Warning: Prepare a Short $BTC Strategy
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Currently, the Bitcoin market is showing strong buying power, especially when $BTC has risen to the 65.6k area. However, this is also the time for bears to start acting wisely. Although the uptrend is overwhelming, we all know that the market can reverse at any time, and starting to short from important resistance levels is a reasonable strategy to avoid being caught at the top.
Recommended short strategy:
Short at 65.6k, TP at 64.6k
Short at 66.6k, TP at 65.6k
Short at 67.6k, TP at 66.6k
These are important resistance levels that BTC may have difficulty overcoming. With the current excitement, many people may think that this is the time to continue Long, but I recommend limiting Long during this period. BTC may reach a short-term peak and turn around sharply, with the possibility of correcting back to the 5x zone within the next 10 to 30 days.
Note: During this period, shorting at the above resistance levels is a safer strategy, instead of trying to Long and getting caught up in FOMO (Fear of Missing Out) psychology. Be careful to avoid chasing the top, especially when BTC is approaching the peak and can turn around at any time.
Conclusion: The bears should start taking action, focusing on short orders in the 65.6k to 67.6k zone, and avoiding long orders to preserve capital. The market is in a sensitive period, and a major correction may be near.
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