Current Position: Short at $BTC (75x leverage)
I am holding my short position on BTC for several key reasons:
Technical Resistance: The price is touching the top of a descending channel that it has respected for months. We are likely to see a downward correction from here.
Selling Pressure at Higher Levels: There is an accumulation of sell orders between 68,000 and 70,000 USDT, which could lead to a decline in the near term.
Technical Indicators: The MACD is showing bearish signals and the RSI is near overbought levels, indicating that the market is losing strength.
Weekend: Historically, weekends tend to be lower volume and often see sideways or downward movement as there is no significant institutional activity.
With this in mind, I maintain the short position waiting for BTC to drop towards key levels of 66,000 USDT
I want to know what you think in the next 24 hours!
70k or 66k?