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Bitcoin Today's Analysis:
Bitcoin bears completely dominate, trend shows no reversal signals whatsoever!
Friends who followed short positions yesterday have successfully taken profits. Today continue with firm bearish outlook.
On the 4-hour level, after Bitcoin surged to new highs, consecutive large bearish candles broke through the trend, retracing all gains from the past week. The downward momentum remains intact.
On the hourly level, after consolidation, bearish engulfing patterns swallowed rebounds, quickly testing down to 69700. Current action is only a weak technical bounce from oversold levels. The chart shows no signs of stabilization, with bears firmly in control.
Bitcoin:
Trend unchanged, any rallies present shorting opportunities at 70800, 71300 - open shorts in batches
Targets: 68700, if broken look for 66500
$BTC