$BTC $BTC $BTC
The show is just getting started. There's no doubt that Bitcoin's future trend is downward. Don’t hold on to the idea of it going up; it’s clear that the price is falling. The recent rebound is just a chance to short. The correction wave has begun.
Yesterday, Bitcoin hit around $64,200, just touching the rising trend line, and then it started to drop. The trend is weaker than expected. The $62,300 level is near the middle of the Bitcoin Bollinger Band, where we might see a small bounce, but it likely won't go much higher than $63,500. This is a good point to short. I expect it to fall below $60,000 in the next two weeks.
In October, this adjustment could last at least two weeks, with a potential buying opportunity at the end of the month. While there has been a bull market, corrections are necessary; otherwise, traders won’t make any profits.
Currently, Bitcoin’s daily trend looks weak and bearish, with big investors starting to pull back. The OBV volume has dropped significantly, and traders are following their usual strategies. Thankfully, the weekly trend looks better, but we could see a new low; otherwise, the market won’t be interesting.
Right now, focus on shorting rather than going long, especially given the downward trend. Interestingly, September saw a drop in the first half and a rise in the second half. October is starting with a drop as well; let’s see if it repeats last month’s pattern.