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Bitcoin started to look bearish after the price rose to 116000. The announcement of interest rate cuts further validated this idea, and it has currently fallen to a low of 106000 before starting a rebound. I'm not sure if it can V up today!
Yesterday's short position layout saw significant profits as it reduced positions at a low, but it is important to note that today one should not chase the shorts again, as the price has reached the lower band of the daily line, and the pullback position happens to be in the 61.8 area of the entire rebound. Additionally, the monthly line's closing shows some short sellers taking profits, which will lead to a small rebound.