Bearish in the long term! Bitcoin heading straight to 62800!

Bitcoin is currently hovering around 69000, don't be fooled by the temporary rebound, long-term bearish signals are at maximum!

Fed rate cut expectations have been cut, there may even be rate hikes, liquidity tightening is a done deal;

From the chart perspective, the 70000 level has failed to hold multiple times, rebounds lack volume. Short-term support at 68000 and 66000 are not solid, once broken through there will be accelerated downward movement.

In terms of trend structure, after high-level consolidation the center of gravity continues to shift downward, there is no new upside momentum, correction space has opened up. Whether short-term or mid-to-long-term, the trend is bearish.

First target directly at 62800.
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