Yesterday I said that if we can't reclaim the trend line, we might try to short Bitcoin. I don't know if you all shorted? I was too lazy to short. Yesterday's drop was also about 6%, and from the peak to now, it has dropped nearly 12%. I still think that's not enough. In a bull market, it's quite normal for Bitcoin to rise a lot and then have a 10%-20% pullback, so there's no need to be too pessimistic #BTC

12-19 Bitcoin Analysis：
From a fundamental perspective, this wave of decline is primarily due to the Federal Reserve's interest rate cut. Generally speaking, interest rate cuts are bullish for Bitcoin, but this time, after the announcement of the rate cut, Federal Reserve officials believe that only two rate cuts will be needed by 2025, whereas previously four were expected. Therefore, the reduction of two cuts is naturally bearish news for the financial market, which is why yesterday the U.S. stock market and Bitcoin experienced a significant downturn.
Returning to the candlestick chart, let's talk about the short-term aspects of Bitcoin. From the four-hour level, Bitcoin has already broken below the four-hour uptrend line. After that, we only need to pay attention to whether Bitcoin can reclaim the trend line to form a false breakdown. If it is directly rejected at the trend line and fails to create a higher high, then it could be a good opportunity to short Bitcoin.
Because in the short term, if Bitcoin is rejected below the trend line, it is very likely to form the 123 pattern, and there is strong support around 980. If it is once again pierced by a large bearish candlestick, then the bullish trend will turn into a bearish trend, #BTC☀