$BTC Yesterday, I said the price had broken below the rising trendline around 72000 and told everyone to look for opportunities to go short. It reached a low near 67000. Those who used that article as a reference and went short have locked in at least 3000 points of profit today; if they held on, they could have made as much as 5000 points. Why did I predict yesterday that it would fall straight to a low near 67000? As I said, the chart analysis made it very clear.
What should we expect next? The price has already rebounded from support at 67000. In the short term, it should retest the rising trendline, which is in the 70000–72000 range. I marked it very clearly in Figure 2.
However, this drop is very similar to the fall in June, when the price went from 82 to below 57. So even though there are signs of a rebound now, I won't go long. I'll wait for the rebound to reach a key level, then look for an opportunity to go short.
What should we expect next? The price has already rebounded from support at 67000. In the short term, it should retest the rising trendline, which is in the 70000–72000 range. I marked it very clearly in Figure 2.
However, this drop is very similar to the fall in June, when the price went from 82 to below 57. So even though there are signs of a rebound now, I won't go long. I'll wait for the rebound to reach a key level, then look for an opportunity to go short.
