BTC sideways movement, be careful of a change in trend and a price drop!
BTC is currently swinging between 107,000 and 110,000, and it is temporarily unclear whether it will rise or fall. However, based on market signals, I bet that a direction will be chosen within a week—most likely downwards! If it touches 110,000 to 112,000 during the day, my friends, it's time to short!
Why am I bearish? Three solid reasons:
1️⃣ Trump just announced a $2.5 billion investment to build Bitcoin reserves, and recently there have been a series of positive news, yet the price can't even reach the previous high of 112,000. This is clearly a scenario of "positive news turning into negative"!
2️⃣ Previously, every time it broke through the previous high, it shot up like a rocket, at least 5%-10%. This time, however, it just made a false move with an increase of $800, and the bulls are clearly lacking momentum— a typical case of "false breakout and real sell-off"!
3️⃣ The weekly chart has seen eight consecutive green candles; historically, tops are never formed in a single day. Chasing the rise now is like trying to catch a falling knife; wait for a sudden big red candle one day, and you'll be left questioning your life choices! At this position, it’s better to wait for a rapid drop to buy the dip than to be a bag holder!
