The current market signal suggests that if 76,000 was indeed a recent high, then a prolonged period of sideways consolidation is likely, potentially lasting two to three months. However, if, as previously anticipated, short sellers accumulate liquidity around 80,000, the market will move much faster, most likely breaking below 60,000. Personally, I believe that in either scenario, establishing 60,000 as a bottom is highly unlikely, with a probability of only around 30%.
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