On the weekly chart, Bitcoin $BTC surged with significant volume last week under some favorable conditions, but it still failed to close above the previous high of 111,000, indicating that there is still significant divergence or pressure above.
After the Bitcoin conference, the short-term favorable conditions may not continue; waiting for Trump's comments is too much of a gamble.
Therefore, this week will attempt to short; today we will be at 110,900, aiming to stay above 111,000 as a stop loss.
If the stop loss is hit, then the conference may lead to a brief surge to the previous high, around 111,300? A surge followed by a pullback will be attempted again.
This short position is just a pullback, not a reversal; for instance, it might drop below 104,000 before considering re-entering long positions.
