$BTC Triangle convergence oscillation, spot premium continues to decrease, bearish pressure above 109000

Trading plan | July 8

1. Yesterday, I suggested that those holding short positions should take some profits around 108000 to avoid the market's continued oscillation exhausting your patience. The price has dipped and stabilized above 108000; if you didn't take profits, there’s no need to exit your short position.

Last night, I mentioned that the spot premium continues to decrease around 108000. If this level stabilizes, there will be some rebound; currently, the price is in the process of rebounding.

2. Returning to today's market, from a four-hour perspective, BTC is currently forming a converging triangle and consolidating. To conclude, there is limited upward space at this position. Aside from the current short-term long position to hedge my short profit, I won't make any long positions. Even if BTC chooses to break through 110,000 and my short stop-loss is triggered, I will still look to short again above the new high, shorting in a bull market.