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BTC took the expected plunge on Sunday—here's my outlook for the market ahead.
I mentioned yesterday that this rally was merely a rebound, not a trend reversal. My short positions executed perfectly, capturing over 2,000 points of gains. Going forward, I'll add to short positions on any rebound bounces and aggressively hammer Bitcoin.
From a technical standpoint, the downtrend has quietly begun. It's like boiling a frog in slowly heating water—gradually cooking those still waiting for a Bitcoin bounce-back and a bull market return.
Once Bitcoin breaks below the 65,500 level, it will have broken through the lower boundary of the ascending channel shown in the chart below and formed a weekly descending flag structure. At that point, the price is likely to accelerate downward, and breaking 60k to target 50k could become reality.
Let's wait and see what unfolds!