The price just exceeded the resistance zone of the downtrend pattern, but could not hold → fell back down
→ a trap for buyers, not a real increase yet.
Currently, we need to look at it simply:
- Zone 74.4K – 74.8K → if the price retraces and gets pushed down again → there is a high possibility it will drop sharply
- The recent red candle is the first time after many days of continuous increases → a sign that the buying pressure is gradually weakening
Main scenario:
- Rejected near ~74K → turns around to decrease
- If this zone breaks → it could fall to 54K – 49K
In summary:
74K = checkpoint.
If it can't break through → it will continue down, quite deep haha.
I still hold the short position $BTC
→ a trap for buyers, not a real increase yet.
Currently, we need to look at it simply:
- Zone 74.4K – 74.8K → if the price retraces and gets pushed down again → there is a high possibility it will drop sharply
- The recent red candle is the first time after many days of continuous increases → a sign that the buying pressure is gradually weakening
Main scenario:
- Rejected near ~74K → turns around to decrease
- If this zone breaks → it could fall to 54K – 49K
In summary:
74K = checkpoint.
If it can't break through → it will continue down, quite deep haha.
I still hold the short position $BTC