Due to the increasing market expectations that the positive developments have been fully realized, there has been a surge in short selling, which has significantly affected the expectation of a sharp decline. Therefore, it is currently more necessary to clear some of the short positions before proceeding with a major drop, which may actually yield better results. Based on the latest data collected by the Badge and the market dynamics, it is expected that Bitcoin will approach 78,000 to reduce short positions while guiding the market’s long position increases. At that time, there is a high probability of a significant bearish pullback.

Considering the latest situation, it is recommended that everyone adjust their BTC short positions to the range of 77,800-79,000 for the first entry, with an additional buy order at 80,500 and a stop loss at 81,500. In the short term, the target is 75,000, in the medium short term 71,000, and in the medium term below 68,000.

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