Bitcoin

From the 12-hour timeframe perspective. The previous attempts to break upward and stabilize were indeed suppressed, with the bears directly smashing the market violently. Now Bitcoin is beginning to show a clear downward momentum and is testing the support level at 65,935 with strong capacity. As discussed before, we must clear out the liquidity below, and the timing is just right.

Currently, it’s highly likely to test the bottom range. The probability of breaking below is very high this time. We’ve been stuck in this boring sideways range for too long, and the bulls are completely exhausted. Once 65,935 is broken, the next support level is directly at 62,857. I expect there’s a chance for a violent sell-off to wipe out all the stop-losses at the local bottom.

Safe to go short!