Bitcoin Price Update (July 4th)

This article was written at 14:13. Looking at the daily chart, Bitcoin has been falling from a high of 126173. Several rebounds have been weak and failed to break the downtrend. Currently, Bitcoin is in a downtrend, and this decline is not over. The accelerated decline after breaking the low near 59900 has not yet ended. Do not blindly try to buy the dip. The market is currently in a slight consolidation phase, after which further declines are expected. For trading, it is safer to maintain a short-selling strategy. Follow the trend. Wait until the price starts to fall before considering bottom-fishing. Recommended entry point: Bitcoin can be shorted at 63600, with a second position at 646, and a stop-loss at 66000. The initial target is 60000-59000. After reaching these levels, assess the strength of the decline to determine if further holding is necessary. Manage your entry opportunities independently. Click the profile picture above to open my profile and discuss market trends. Short-term trading, control risk, profits and losses are your own responsibility.