$BTC Over the past few days, the market has been pushed down on purpose to scare traders. This fear makes people think the market will fall again, so many start opening short positions.
This is how traps are usually created. Instead of going down, the market can move up and catch short sellers off guard. Bitcoin may move toward the 74K area first, and after that, a dip could happen.
Stay calm, manage your risk properly, and do not trade based on fear.
Always use a stop loss before entering a trade. I am only explaining possible scenarios. The market can also dump.
Trading with strong support near $194.5 (EMA 99) after pullback. RSI(6) at 25.0 indicating oversold conditions with potential for bounce. Current price holding above EMA(99) while major resistance at $208.8. Previous momentum suggests upside continuation.