$BTC The trading strategy of Dog House is perfectly replicated.
Yesterday it was mentioned that BTC needs to break through the resistance zone of 69200 to continue rising. As a result, last night the price touched around 69200 but lacked the momentum to break through, eventually starting to decline, forming a trap for the bulls, which led to a rapid drop in the futures market, hitting a low of 66800.
Now, with the short positions being liquidated, the market has seen a rebound, but there has been no substantial change in the news, and market sentiment remains in a wait-and-see phase for the results of the U.S. election.
In the past 24 hours, the scale of short positions has been nearly twice that of long positions, and considering the influence of major news such as the election, it is advisable to avoid opening positions during this stage and to stay on the sidelines. This approach can typically outperform over 80% of market participants.
