About the bearish view on PNUT tokens

First, after a rapid rebound, it has started to rapidly decline again. Is there a chance for further rebound in the current market?

We need to first understand that the bullish positions for PNUT have increased significantly today for the following reasons:

1. Bitcoin has broken new highs

2. Retail investors still believe it's a 'bull market'

3. Too many are stuck at the top, averaging down their positions

4. Retail investors think the probability of a rebound is high

But has anyone noticed a detail? Everyone knows that Bitcoin has broken new highs, yet such a popular coin has dropped to low levels for everyone to grab chips? Just based on this point, one can abandon the idea of going long and instead consider building a short position in batches with low leverage (1-3 times leverage), keeping the position no more than 20% of the total position. One can look towards around 0.54, take profit after gaining, and set a stop-loss. After a loss, cut losses in a timely manner. Since the market has just opened, the resistance and support levels have little reference value, so it is advised to control losses at (50% loss within 20% of total position).