Bitcoin saw the expected pullback on Sunday. Here's my view on the market ahead.



As I mentioned yesterday, this rally was only a rebound, not a trend reversal. The short positions were perfectly executed and captured over 2,000 points of movement. Going forward, I'll add to short positions during any rebounds and aggressively short Bitcoin.

Looking at the price action, the downtrend has clearly begun. It's like boiling a frog slowly—those still waiting for Bitcoin to rebound and the bull market to return will be caught off guard.

Once Bitcoin's price breaks below around 65,500, which will break the lower boundary of the ascending channel shown below and form a weekly descending flag pattern, the price could accelerate downward sharply. Breaking 60k and heading toward 50k may very well become reality.

Let's wait and see what unfolds!
BTC-2.44%
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