Main focus $BTC | Strategy: Short (short on rebound, don't chase)
Let's be clear first
Direction nailed down: short $BTC with 2-3x leverage, position size no more than 5% of total funds. Don't chase the current price, wait for it to bounce back to 77,400-77,600 and place two short orders, average price around 77,500, stop loss at 78,250. If it breaks below 76,260, reduce position by half; at 74,735, clear all. Why not go long? Moving averages are all pressing overhead, and the funding rate keeps draining longs daily. Going long here is just taking a fall for others.
The current bullish stance is like the crowd chasing Wu Yanzu on the streets of Chengdu—shouting loudly but getting farther away. There's something to say face to face: $BTC, stop it, Azu, downstairs are all shorts.
Next door $ETH isn't doing much better
$ETH reported at 2,249, down 2.58% in 24 hours, 7-day range 2,171.52-2,391.16, falling even more solidly than $BTC. Funding rate daily average +0.0053%, longs aren't that crowded, but there's no sign of aggressive buying either.
On the position side, even less promising: open interest at $1.85 billion, net outflow of 7.4M in the latest day, cumulative net inflow of only 42.3M over ten days, which is just a fraction compared to $BTC's 297.1M. The tendency here is: prioritize shorting $BTC, shorts just entered and there's still room below; $ETH is following the downtrend without the uptrend, shorting is possible but don't expect surprises.
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