Hey everyone! I talked about a fake jump in Bitcoin's price before, and guess what? I was right again. Bitcoin tried to go up to $68K but couldn't make it and dropped back to around $62K. Right now, it's trading at $64K.

Let's take a closer look at the charts. The daily chart shows that Bitcoin is still in a downtrend. The MACD indicator agrees, suggesting Bitcoin might keep dropping. When we look at the shorter 8-hour and 12-hour charts, it looks like Bitcoin is forming a "head and shoulders" pattern, which usually means the price might drop more.

Bitcoin was rejected at $68K, fell to the $62K support level, and the MACD is hinting at more downward movement. I recommend considering a short trade if it reaches $66.5K to $67K, as it might then drop below $60K and possibly even down to $52K.

If you're currently holding Bitcoin for a long-term increase, keep a close eye on it for the next 12 hours. If you're not holding any Bitcoin right now, you might want to wait for a small price increase and then consider shorting it. This could be a significant move for us.

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