Is it appropriate to short BTC at the current price?
1) The price has rebounded to the strong gravity level of 0.618, around 116,800. After the October 11th crash, it peaked at 116,000 for the second time. Meanwhile, long volume has been decreasing in recent days, and short volume is also weak.
2) Spot sell orders are piling up on the order book, but the amount is only a quarter of the previous high, and short positions in futures contracts are also accumulating.
The rebound price has arrived, but the timing is not yet right, and the interest rate cut has not yet been implemented.