$BTC Update🔥🚨:

💥 The price of Bitcoin has surged to 110,000, signaling the completion of the top structure on both the 4-hour and daily timeframes. If you haven't already, it's advisable to consider a short position, even if it's a small one. A potential breakout at the daily high could lead to a rapid decline, especially if the neckline at 93,888 is breached. However, caution is necessary as there is still strong support at current levels, with the weekly timeframe top structure remaining incomplete. The situation could go either way — a triple or double top formation could emerge, but this will depend on the market's dominant force.

If the daily close holds at 104,556 or 101,360 by tomorrow morning, there’s a chance of a rebound. Key resistance levels are at 107,400, 109,000, and 110,000, but the market dynamics here are uncertain. If you are holding short positions at higher levels, it’s best to maintain them, and if you plan to reduce your lower positions, make sure to do so cautiously. If the price declines swiftly overnight, setting your liquidation price above 150,000 could help mitigate risks.

The key takeaway: Don’t chase the price upwards as it climbs. The safest approach is to refrain from entering long positions during a rally, and instead, wait for clearer market signals before adjusting your strategy. Always prioritize risk management and avoid overexposing yourself to volatile movements.

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