I just shorted at $69,311 / Leverage: 5x (Actual leverage: 1.5x, due to spare margin).
Correction is likely after a quick short squeeze. Ideally you could go long right now to take profit from short squeeze, AND reverse to open a short at peak to profit twice, but then again who can tell where is the peak? Yeah there is no way to tell.
Also you are likely to get greedy from your long, wait for even more profit and don't take profit until it dumps which sends the price even lower than your long entry. << Is this you?
So whatever, I'm just gonna short with low leverage. I can wait even if the short squeeze is bigger than expected. This trade will be open for a while.
SUMMARY: I short now, although a short squeeze is in progress and more is anticipated, because I am low leverage and the correction will be around 67k minimum. Which is way lower than my entry.