Caution—run now or you'll lose everything! Bitcoin has very likely peaked, and the situation ahead is extremely dire.
1. As shown in the chart, Bitcoin's current trend is a very classic descending flag pattern with upward consolidation. Top levels: 72K—>74K—>76K, bottom levels: 60K—>63K—>65.5K. The third rally is complete—is a crash about to start?
2. I think the probability is quite real. The top of this rally is very likely around 76K or a false breakout near 78K. Based on the trend line, it should pull back to around 69K. If it breaks below the ascending trend line, this could very well be the start of another wave of selling, potentially breaking below 60K or even lower.
3. We shorted Bitcoin 3 times at 74K, took profit on 2 of them, and this third short is currently right around cost price. I also hung short orders around 77K to add position, and the situation is good—the price action is following our expectations. I see some of you are panicking unnecessarily. The price is still at 74K. Those who should be panicking are the ones who chased the top on the rally, not us.
4. I think the real catalyst for market action will be the Fed's interest rate decision meeting tomorrow midnight. The probability of bad news is still quite high. Plus, Bitcoin has surged so much in the short term—even without bad news, a normal pullback would be substantial. This morning's 76K very likely touched the top, sweeping out most of the short positions. But I'm playing it safe and still have shorts hung at 77K. If it comes, I'll take it.
Caution—run now or you'll lose everything! Bitcoin has very likely peaked, and the situation ahead is extremely dire.
1. As shown in the chart, Bitcoin's current trend is a very classic descending flag pattern with upward consolidation. Top levels: 72K—>74K—>76K, bottom levels: 60K—>63K—>65.5K. The third rally is complete—is a crash about to start?
2. I think the probability is quite real. The top of this rally is very likely around 76K or a false breakout near 78K. Based on the trend line, it should pull back to around 69K. If it breaks below the ascending trend line, this could very well be the start of another wave of selling, potentially breaking below 60K or even lower.
3. We shorted Bitcoin 3 times at 74K, took profit on 2 of them, and this third short is currently right around cost price. I also hung short orders around 77K to add position, and the situation is good—the price action is following our expectations. I see some of you are panicking unnecessarily. The price is still at 74K. Those who should be panicking are the ones who chased the top on the rally, not us.
4. I think the real catalyst for market action will be the Fed's interest rate decision meeting tomorrow midnight. The probability of bad news is still quite high. Plus, Bitcoin has surged so much in the short term—even without bad news, a normal pullback would be substantial. This morning's 76K very likely touched the top, sweeping out most of the short positions. But I'm playing it safe and still have shorts hung at 77K. If it comes, I'll take it.