Called this yesterday. That bounce was nothing more than shorts getting squeezed. Once the buying dried up, BTC started moving right back down like I expected
Todays bounce was more about shorts getting squeezed than the market actually reacting positively to the news
Once that forced buying dries up, I expect the move to fade.
Todays bounce was more about shorts getting squeezed than the market actually reacting positively to the news
Once that forced buying dries up, I expect the move to fade.
Short term, I’m pretty bearish on the market after CPI. I think that $80K region is going to get tested again.
We’ll see how the market reacts at those levels and where things go from there. For now, I’m sticking to shorts.
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