Bitcoin Signals Potential Decline
Good evening, everyone. As mentioned yesterday, there has been a high probability of a decline following a head-and-shoulders pattern in Bitcoin, and now it seems poised to break below the blue channel, signaling a potential downtrend. If this decline continues, we may see a drop triggered by the completion of the head-and-shoulders and the formation of a “double top.”
Take-profit target: Around 67,000 USD
Stop-loss level: Around 68,500 USD (if Bitcoin breaks above the black channel)
This is a timely update as movement has started to occur. Since the stop-loss range is relatively wide, please be cautious with your position sizing when entering the trade.
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