Here's a simplified Update about Current Market :
Key Points:
1
Bitcoin (BTC) has many orders to liquidate on both sides of its current price range*.
2
The price often breaks out of a range after "sweeping" one side (hitting many orders) and then moving to the other side*.
3
Given the current situation, I think the price will break out of the range*.
4
With more short positions (bets that the price will go down), I think the price will break down (go lower) first*.
5
If the price hits the low end of the range after Monday, I might try to scalp (quickly buy and sell) a potential bounce (upward movement)*.
Simplified Explanation:
I think Bitcoin's price will break out of its current range and go down first because there are more short positions. If the price hits the low end, they might try to profit from a potential bounce.
