Bitcoin showing early signs of a short-term decline
I think Bitcoin has started a downward move after recent weakness and a failure to hold nearby support levels.
I'm seeing rising selling pressure and momentum indicators turning negative, which increases the likelihood of further short-term declines.
I would reduce my long exposure, use tighter stops, and only consider re-entry after clear signs of a stabilized bottom.
Analysis
Breaking support with rising volume and negative momentum suggests downside risk currently outweighs upside; a confirmed reversal or stabilisation is needed before bullish conviction.
Recommendation
Reduce or sell long positions, consider short exposure only with strict stops, and wait for reliable reversal signals before buying.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.