Big Bitcoin today showed an overall pattern of consolidation at higher levels following a bottom exploration and rebound. In the early morning, prices continued to decline from around 71,500, breaking below the 70,000 level, followed by oscillating declines. In the afternoon, it rebounded from the bottom, reaching highs near 71,300. After the US session opened, the coin price came under pressure and fell, breaking below the key support level from the Asia-Europe time period. We began deploying short positions in the morning and have successfully taken profits of 1,300 points.

On the technical side, hourly candlesticks continuously closed with bearish bodies, indicating that bearish momentum is gradually strengthening. ADX at only 19 indicates a trendless market, MACD momentum is decaying, RSI is hovering around the neutral 50 level, and indicators show weakening convergence. The key level of 70,000 has been broken, and the downside space to 69,000 may continue to open. Overall, the structure of gradually lower highs remains unchanged, with rebounds being opportunities for bearish entry.

Bitcoin can be shorted in the range of 70,300-70,700 with a target of 68,500. Ethereum 2,160-2,190 short with a target of 2,100. $BTC ‌$ETH ‌