In the second screenshot (21:05), BTC bounced from 78,569 to around 78,660 within a minute, indicating that there is indeed support from buy orders around 78,500. The current price is 78,661, with the MA5 at 78,632 already breached, but MA10 at 78,738 and MA20 at 78,832 still present resistance above.
Real-time advice for you guys:
1. As we get close to resistance, it's not the time to chase long positions.
This bounce might be due to shorts covering or accumulation at lower levels, but the moving averages remain in a bearish formation. If you're flat, it's advisable to wait until prices approach the 78,700-78,800 zone to observe the candlestick patterns for signs of stagnation (like upper wicks or engulfing bearish candles), before considering a light short position with a stop loss above 79,000.
2. For those already holding short positions, keep an eye on unrealized losses.
If you shorted around 78,570, you're currently sitting on about 90 U in unrealized losses (with 100x leverage, a 62 U margin would be down approximately 60%). You can only add 0.64 U, which is almost negligible for margin calls. I suggest either cutting your losses immediately or hoping the price doesn’t hit 78,700 again. Rationally, this position is already very risky.
3. Don’t let a one-minute bounce dictate your moves.
The funding rate is still -0.001%, and market sentiment is not euphoric. A bounce without volume or under pressure is likely to test 78,500 again or even lower. The big players might be hunting stop losses.
4. If your capital is below 1 U, please stop trading futures.
This is the most critical advice: with 0.64 U at 100x leverage, a 0.1% fluctuation would liquidate you. Go earn some funds, or practice on a demo account. Don’t gamble with your last penny.
Summary: Short-term looks bullish with the bounce, but the overall trend remains bearish. Wait to short above 78,700 or look to short if it breaks below 78,600 (need to be quick in and out). Most importantly: replenish your capital or lower to below 10x leverage, otherwise any advice is just hot air. $BTC
Real-time advice for you guys:
1. As we get close to resistance, it's not the time to chase long positions.
This bounce might be due to shorts covering or accumulation at lower levels, but the moving averages remain in a bearish formation. If you're flat, it's advisable to wait until prices approach the 78,700-78,800 zone to observe the candlestick patterns for signs of stagnation (like upper wicks or engulfing bearish candles), before considering a light short position with a stop loss above 79,000.
2. For those already holding short positions, keep an eye on unrealized losses.
If you shorted around 78,570, you're currently sitting on about 90 U in unrealized losses (with 100x leverage, a 62 U margin would be down approximately 60%). You can only add 0.64 U, which is almost negligible for margin calls. I suggest either cutting your losses immediately or hoping the price doesn’t hit 78,700 again. Rationally, this position is already very risky.
3. Don’t let a one-minute bounce dictate your moves.
The funding rate is still -0.001%, and market sentiment is not euphoric. A bounce without volume or under pressure is likely to test 78,500 again or even lower. The big players might be hunting stop losses.
4. If your capital is below 1 U, please stop trading futures.
This is the most critical advice: with 0.64 U at 100x leverage, a 0.1% fluctuation would liquidate you. Go earn some funds, or practice on a demo account. Don’t gamble with your last penny.
Summary: Short-term looks bullish with the bounce, but the overall trend remains bearish. Wait to short above 78,700 or look to short if it breaks below 78,600 (need to be quick in and out). Most importantly: replenish your capital or lower to below 10x leverage, otherwise any advice is just hot air. $BTC