Continue to short $BEAT . This wave of rebound looks fierce, but in reality, it is a technical correction after a decline. Look at the 4-hour chart; the MA99 is still firmly pressing above 3.0, and the medium to long-term bearish trend hasn't changed at all. In the trading data, the proportion of short positions held by large traders has always been high, and the slight recovery in the long-short ratio looks more like a false bottom by retail investors.
The short-term rebound to around 2.55 has already encountered a dense area of chips during the previous decline, and the pressure is visibly apparent. Moreover, although the basis has warmed up, the trends of the open interest and market value ratios indicate that short funds have not truly exited; they are just waiting to strike again after the rebound.
Such a weak rebound after a sharp decline is most suitable for high shorts. It is recommended to open a short position in the 2.58-2.6 range, with a stop-loss at 2.7, and initially target 2.3, and if that breaks, then look at the previous low of 2.0. Remember, the big trend is bearish; the rebound is just providing a better opportunity to short, don't be fooled by short-term bullish candles.
