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Market Analysis: $BTC (2026-2-16)
Bitcoin last night on the hourly chart still broke below the key support level of 69,000, and after breaking it, it rebounded to 69, turning the support into resistance. It then continued to decline, indicating a bearish trend. 📉
Bullish signals are beginning to fade, and in the short term, it’s unlikely to move upward again. You can consider short positions, with the stop-loss set just above the key level of 69. I have entered a market short position.