The daily candle closed bullish, hovering around the neckline. Good morning brothers, I went short yesterday. As the saying goes, trading short is like being a dog. After these days of rebound, yesterday’s short order had a chance to catch its breath and provided an opportunity to exit. The current close is near 93000, not far from the 93000 level, but still quite a distance from the next resistance area near 99000. The daily chart shows reduced volume but holds above 93000, so a short squeeze pullback is possible at any time.

Why have experienced traders been choosing to stay on the sidelines these days? Because it’s been tough, and the market is a bit lackluster. Yesterday, the ETF had an outflow of 57 million, but so far there’s no sign of outflow from BlackRock. The ADP data was favorable for shorts, and there was a dip as a result. Actually, coming down from the top, the 123 reversal rule has been met at least three times, each time we thought the reversal would stick, but all have failed. So I’m still cautious here.

Intra-day, go long on dips, set breakeven stops if it moves in your favor. If today’s close breaks below 91000, we can be pretty sure that the reversal pattern has failed again.

Go long near 92000, add more at 91500-90500, target 94100, if strong then 98000.
Go long near 3150, add more near 3100, target 3350, if strong then 3500.
#PI #BTC