BTC Maintaining a Bearish Outlook in the Short Term

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Despite the recent rally fueled by First Republic Bank's woes, I believe Bitcoin will resume the bearish movement seen before the news. I'm still short on BTC.

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Note

Recent price action shows that BTC is in a descending triangle. Depending on sentiments, BTC may break above the $29,200. If that happens, we'll see a climb to 30K.

Nonetheless, I still expect a significant downtrend before the close of the year.