Bitcoin Short-Term Bearish Pattern : Time to Sell?
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Bitcoin has formed a "bearish harmonic pattern" near the **$66,500** level, signaling a potential downward move. With this pattern, thereâs increased confidence in a short-term bearish scenario.
The suggested "take-profit (TP)" levels are set at **$59,800**, **$55,710**, and **$52,800**, with a **stop-loss (SL)** at **$66,500**.
While Bitcoin has had notable upward and downward swings, it currently sits in a similar zone seen during past movements. These TP zones are strong areas where Bitcoin has previously reacted, making them ideal for profit-taking opportunities.
Conclusion :
A short-term bearish trend for Bitcoin seems likely, especially as it nears the **$66,500** level. Traders should consider selling with profit targets in mind.
Advice for Investors/Traders :
Consider shorting Bitcoin and look to exit around **$59,800**, **$55,710**, and **$52,800**. Keep a stop-loss at **$66,500** to manage risk effectively.
