Bitcoin (BTC) Technical Analysis: Is This A Good Time To Short?

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Bitcoin has been swinging up and down the $9.4k level but it has yet to make a decisive move. At this point, many Bitcoin traders are expecting the price to break below $9.4k and decline towards $8.7k. However, I think a move towards $9.7k is still on the table. Even if Bitcoin does not garner enough momentum to rise that high, it could at least end up testing the previously broken ascending channel. It might therefore be a good time to wait for better entries to go short on Bitcoin or other cryptocurrencies.

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