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Update on Bitcoin analysis:
First, Bitcoin's short-term decline is quite consistent with my previous prediction, but the retracement at the fifth high point before the drop was slightly off; I predicted it would touch 80,000, but the high only reached around 79,500, so there was a small error.
Originally, I predicted the end of a wedge pattern, but since the high point was slightly off, the pattern evolved into a double top. Both patterns are bearish, with a small point difference, but the outcome is the same: the price has fallen nearly 4,000 points in the short term. If you missed this decline, don’t worry; there are still about 3,000 to 4,000 dollars of downward movement expected.
Because the short-term top formation is confirmed as a double top, and the neckline has already been broken, the neckline is near the lower edge of the upward channel. Currently, it appears to have broken below, so this upward trend may be ending. The probability of forming a wedge or a triple top on the rebound is very low.
Wait for a small rebound to continue shorting; the rebound is expected to reach around 77,800. Once it hits that level, it’s a good entry point for shorting. If it accelerates downward again, the target should be at least 73,500. Once it reaches that level, consider further plans; for now, continue to expect a decline to around 73,500.