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MicroStrategy, Grayscale, El Salvador President Nayib Bukele, and some whales are purchasing Bitcoin in the range of $60,000 to $68,000, as shown in Chart 1.
Therefore, when the Bitcoin price reaches the end of the triangle, it may break through the limit and rebound upward. Once it successfully breaks through and stabilizes above $71,500, there is a high probability that the price will continue to rebound toward below $80,000, which is around the 0.382 Fibonacci retracement level at approximately $78,800, as shown in Chart 2.
I also look forward to Bitcoin rebounding to around $78,800, which would make shorting BTC very profitable and more certain. Because this kind of rebound is still a dead cat bounce in a bear market, a fourth-wave rebound on the weekly chart, as shown in Chart 3.
Now I am just waiting for the BTC price to reach the end of the triangle and prepare to take action when the trend reverses.