In my previous analysis I recommended #short

$BTC Update of my analysis:

Current Price: $87,967.99 (5.03% Drop!)

Buying Dominance: 11.97% (Very low, strong selling pressure)

Selling Dominance: 88.03% 🟢 (Very high, confirms selling pressure)

Technical Indicators:

RSI (6): 23.95 (Oversold! Possible rebound)

MACD: Crossing down, strong bearish trend

Volume: Increasing, confirms the strength of the drop

Signals:

Short (Sell):

Strong signal: Extremely high selling dominance, bearish MACD, increasing volume.

Confirmation: The 5.03% drop validates the bearish trend.

Long (Buy):

Single signal: RSI in oversold zone, possibility of a technical rebound.

Risk: Dominant bearish trend, the rebound could be brief.

Probability:

At this moment, the probability of a Short (sell) is significantly higher.

Justification:

Strong Selling Pressure: The massive selling dominance and the increase in volume indicate strong selling conviction in the market.

Bearish Trend: The bearish MACD and price drop confirm the downward trend.

Oversold RSI: Although the RSI suggests a possible rebound, the strength of the bearish trend could overpower any recovery attempts.

Precautions:

RSI: Monitor the RSI, a rebound could create an exit opportunity for Shorts.

Volatility: The market could experience sharp movements due to strong selling pressure.

Recommendation:

Prioritize Shorts: The bearish trend is dominant, consider Short strategies with adjusted stop-loss.

Technical Rebound: If trading Long, be extremely cautious and look for confirmation of a trend change.

Remember: This analysis is based on the information provided. Always conduct your own research and manage your risk appropriately.