Yesterday, I clearly called for a short position, opening a short directly from the high near 77,000, holding it all the way to now, precisely catching the downward momentum after breaking below the middle band of the Bollinger Bands!!!

Reviewing today’s market, Bitcoin has fallen from the high of 78,300, breaking below the middle band of the Bollinger Bands. The market is now entirely dominated by a bearish trend, with every rebound giving shorts more chips!

The support level at the lower band of the Bollinger Bands is also precarious, with multiple tests failing to trigger a volume rebound. Once broken, the next target is the previous consolidation zone around 72,000, and even a retest of the 70,000 level cannot be ruled out!

Recommendations

Short around 74,500, look for a break below 73,000, then target 72,000