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BTC weak downward trend, continue shorting on rebounds
The intraday market continues to fluctuate, with the coin price remaining weak since yesterday's dip. Although there was a rebound in the morning, it was always met with resistance above. The market continues to decline within a weak channel, dominated by a bearish trend.
The Bollinger Bands are expanding downward, with the price moving along the lower band, while the middle band remains a constant resistance; the MACD bearish momentum bars are enlarging, with the fast and slow lines crossing downward and diverging; although the KDJ is in the oversold zone, the rebound is weak, and no effective reversal signal has formed, making it difficult to change the weak pattern.
Based on my personal view tonight, continue to short on rebounds, with Bitcoin entering short positions around the 80200-80500 range, with a stop above 81200, targeting 78500, and if broken, look at 77800. $BTC $GT