Bitcoin's bullish momentum has weakened, and it is estimated that it will completely break below 58k at the earliest today, or by tomorrow at the latest!

Once the price definitively breaks below 58k on the 4-hour level, it will likely plummet to the 54k-55k range, or even around 52k. Then, as buying at the bottom steps in, there will be a rebound. As for the exact rebound level, analysis of bullish momentum and trading volume will be needed at that time.

If you shorted Bitcoin around 61k, you can take profits in batches when it drops to 54k-55k. Drinks are sipped one at a time, and meals are eaten bite by bite. For those who shorted around 60k, it is recommended to lock in profits first and take them off the table. Short positions opened above 70k can continue to be held.