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$BTC on the brink of collapse or preparing a trap for shorts?
Let's look at it with a cool head 👇
📉 What I see on the chart (1H):
• Price: 68,542$
• Strong impulse drop from 70,900$
• RSI(6) ≈ 18 — deep oversold
• Price below MA7 and MA25 → short-term bearish pressure
• MA99 (≈68,270$) — first serious support
⚠️ The market is currently emotional. Panic selling has already occurred.
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🎯 Scenarios for
$BTC today:
🟢 Option 1: Technical bounce (above average probability)
RSI is screaming oversold.
Possible bounce into the zone: 👉 69,200 – 69,800$
If volume confirms — we may see a retest of 70k.
🔴 Option 2: Continuation of the decline
If 68,200$ can't hold: 👉 Target — 67,700 – 67,500$
Liquidity may be there.
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💡 What should a trader do?
• Aggressive traders can catch a short squeeze bounce
• Conservative traders — wait for a consolidation above 69,200$
• No panic. The market has already made a strong move.
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📊 Key of the day: 68,200$
As long as it's above — the chance for a bounce is alive.
Below — control is with the bears.
Write 👇
Are you currently in a short or catching a bounce?
Put ❤️ if you are waiting for 70k again
#BTC #Bitcoin #cryptosignals #BSQUARE #MarketUpdate