Wow, BTC just dropped below 70k fast. Is this a real breakdown or just a quick dip? RSI is definitely looking bearish. Might wait for a confirmation before considering any shorts. Need to be careful with entries here.
Update: Seeing some consolidation around 69800 now, but the selling pressure still seems pretty strong. The bounce off the 70k level was weak. I'm thinking a short position might be viable if it breaks below today's low, but with a tight stop loss around 70200. Gotta protect the capital. It's also worth noting the 200 SMA is around 68200, that could be a potential target if the downtrend continues. This is just my current observation, not a recommendation. Trade responsibly!
