#BTC $BTC

Technical analysis breakdown (price action)
Daily chart trend: The current trend is a decline in the fifth wave of a five-wave downtrend. If this is entirely accurate, a new low must appear. The new low I mentioned is around 55,000.
In the 4-hour cycle, a rebound trend has emerged, with candlestick patterns showing a small reversal signal.
In the 1-hour cycle, we see: a clear head and shoulders bottom expected pattern, with around 65,000 as the structure for liquidity acquisition. The formation of the right shoulder is expected around 66,500.
In terms of trading:
This position is a rebound after being oversold; going short at high levels is fine, and the probability of another decline is over 80%.
The expectation of a head and shoulders bottom formation is about 60%.
We need to short around 67,300 and go long near 66,500. As for whether to go long at 66,000-66,500, that’s up to you; do as you see fit.