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Bitcoin's four-hour cycle continues to rise steadily with consecutive bullish movements, while the Bollinger Bands are generally flattening and narrowing.
The market repeatedly pushes higher, testing resistance levels with pin-like probes, with selling pressure layered above, locking in the upside.
Bullish momentum is clearly weakening as it repeatedly hits the critical 79,500 level and pulls back, making it difficult to break out of the range in the short term; a consolidation and shakeout pattern has been established.
For Bitcoin, directly shorting within the 79,200-79,900 range is a good strategy, with the downward target at 76,000–74,000.
Set stop-loss at 81,000, and control the rhythm well to steadily secure profits within the range. #BTC