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UPDATE: $BTC is closing in on the 64,650 limit.
Despite upward momentum the short still has backing:
🔹 ETF flows: -213.8M
🔹 Top traders net short
🔹 4h SMA200 at 72.9K
Rejection from 64.65–66.6K would put 58K in play, but a 4h close above 66.6K kills the trade.
Trade of the Day #6
Short on $BTC rejection into 64,650 (limit)
🔹Stop: 66,600
🔹Target: 58,000
🔹R:R: ~3.41
🔹Confidence: Medium-Low
🔹Horizon: 2-10D
Rationale: bearish below SMA50/200, weak flows and smart-money short bias favor a limit short into resistance.
Thesis Summary
BTC remains in a technically bearish structure with price below major moving averages, weak ETF/flow data, and smart-money positioning leaning short. Because live BTC is trading near $62,505 and the report shows mixed/low-conviction conditions, the cleaner setup
Trade of the Day #6
Short on $BTC rejection into 64,650 (limit)
🔹Stop: 66,600
🔹Target: 58,000
🔹R:R: ~3.41
🔹Confidence: Medium-Low
🔹Horizon: 2-10D
Rationale: bearish below SMA50/200, weak flows and smart-money short bias favor a limit short into resistance.
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Stronger hands are accumulating $BTC.
Long-term-holder supply has risen significantly since the start of the year, while short-term-holder supply has fallen over the same window.