Bitcoin has pulled back from a high of 69,500 and has been consolidating in the range of 67,800 - 66,800 yesterday.
The upper level at 68,000 is forming resistance, while 66,600 is support.
From the daily price perspective, it has currently broken below the MA5 and MA10 moving averages, and the moving averages are starting to turn downwards. The 4-hour chart shows a death cross, indicating that bears currently hold the advantage in the short term.
The range of 66,800 - 66,600 has been tested multiple times, and with the increasing number of tests without a strong rebound, the support here will become weaker and there is a risk of breaking down at any time.
Therefore, if 66,600/66,500 is tested again today, it is unlikely to hold, which would accelerate the move down towards the region of 66,000 - 65,200.
The short positions arranged at 67,800 and 67,500 have been reduced twice at the position of 66,666, gaining a slight profit, and the remaining portion can continue to be held.
Ethereum's performance has been relatively weak in the past two days, and not only Ethereum, many altcoins also began to revert to their fundamental characteristics as Bitcoin corrected, each starting a plunge show.
Today's advice is to continue holding the short positions entered at 67,800 - 67,500. For those with no positions, I suggest entering directly at 67,300; shorts can be made in the range of 67,300 - 67,600 today.
What was provided yesterday was to short near 67,800 - 67,500. Opportunities were provided multiple times yesterday and this morning, and during the pullback, it reached 67,000 - 66,800 multiple times. For friends operating in ultra-short terms, you can carry out five or six trades. Stay tuned for night cooking, bull market strategy layout, sharing various passwords, and helping you understand more about hundred-fold coins
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