Looking at Bitcoin's recent trend, the short-term breakout attempt has not been successful. It tried to push towards 93,000 but only reached around 92,500 before being pulled back. This kind of fake-out market is actually quite common. However, friends who took partial profits at the high points of long positions in advance avoided a disaster. The key now is whether 8,900 can hold — if this level is not broken, there is still a chance to go higher. But for now, the risk-reward ratio of long versus short is just so-so; it's better to wait and see if clearer signals form before taking action.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Looking at Bitcoin's recent trend, the short-term breakout attempt has not been successful. It tried to push towards 93,000 but only reached around 92,500 before being pulled back. This kind of fake-out market is actually quite common. However, friends who took partial profits at the high points of long positions in advance avoided a disaster. The key now is whether 8,900 can hold — if this level is not broken, there is still a chance to go higher. But for now, the risk-reward ratio of long versus short is just so-so; it's better to wait and see if clearer signals form before taking action.