BTC has been in a gradual ascending range since night, forming a local "Bear Flag."
At the same time, the price of #BTC remains in a stable uptrend on the 15-minute timeframe. Let's remind that in the recent night posts it was mentioned that if one were to start building short positions in parts from the current levels - it should be after a signal of a stable downtrend on the 15-minute charts. So far, there is none, but a gradual recovery is occurring.

Now we can say that although the breakout of the trendline from the ATH and the execution of the "Dragon" pattern have started - this start is sluggish. BUT there is:
- already two markers of potential lows on the 6-hour timeframe,

- the first marker of a potential low on the 8-hour timeframe.

So the manifestation of buyer strength can be expected. At the same time, let's remind that the asset has high markers on the higher daily and weekly timeframes. And there are stable downtrends on the 3-, 4-, and 6-hour timeframes with the extreme base goal of $113,657. As before, we believe that the decline is not yet executed and after a possible bounce, we expect its continuation.


We were forced to exit the previous short by just one, but important signal - a Strong signal for a potential low on the hourly timeframe. If it weren't for that, we would still be in the previous position now. As we can see, the execution of the Strong signal on the hour turned out to be rather modest - the price bounced +1.3% from the low and then continued to dive.
Nevertheless, we tend to wait for a price bounce, which would help maximize the profit of the new short. Therefore, if building a short position from the current levels or slightly lower is possible - it will be a small portion of the allocated amount. Ideally, we would like to enter the main amount into the position around the 0.5 Fibonacci level on the current decline - $120,637.

Next to it, at $120,842 - is also an important horizontal level according to our P73 Smart Liquidity Zone indicator.

Let's also remember that, despite the downtrends on the 3-, 4-, and 6-hour timeframes, the asset has an uptrend on the daily timeframe with a potential breakdown level of $115,639.

And just below at $114,914, the 50 EMA of the daily timeframe is currently passing. This is also the reason why we would like to accumulate the main part of the short above, rather than from the current levels.