Bitcoin Fails to Break $80,000—Will It Trigger a Major Drop?
Published: 2026-08-24 17:19
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Wrong Circle, Wasted Effort
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The offline learning session has wrapped up, and I walked away with a lot of valuable insights.The market has been performing well over the past few days, but not many people are actually riding this wave.That's because before this rally, too many people were calling for a bear market. Most viewed the current situation as bearish, but their reasoning was simplistic—just because 2022 was a bull year, they assumed 2026 would be one too.These people, trapped in habitual thinking, suffered heavy losses. On the 19th alone, nearly $3 billion was liquidated, marking one of the top 8 liquidation events in the entire crypto industry.
Although many are bearish and expect a major drop, I've consistently held the view that the bull market is still intact and a big crash isn't coming.Since the pullback bottomed out in February, I've maintained that $60,000 would be very hard to break. I've explained the reasoning clearly. Over the past six months, even when the price briefly dipped below $60,000, I never panicked.Will Bitcoin break below $60,000 this time?Bitcoin has been oscillating around $60,000—is this the end for bulls, or a trap for bears?I've shared my views in these articles, and especially recently, I've repeatedly warned that shorting requires caution.Bitcoin is on the verge of a breakout—are you still waiting for a big drop?Few in the market can stick to their own views. When prices fall and most are shouting "bear market," holding a bullish stance is even rarer.Sticking to my judgment isn't stubbornness or ignorance—it's the result of correctly identifying bull and bear trends while staying unaffected by external market sentiment. This comes from continuously improving trading skills, and it's also the payoff of attending every learning session.
Some say Bitcoin has one last drop coming, and the current move is just a rebound that has already reached resistance.But my view differs. The fact that it hasn't broken through resistance and is consolidating there is still about building momentum and trapping shorts. From the charts, there's no sign of an impending decline.I'll say it again: you don't have to be bullish, but shorting at this level requires extreme caution!The above is solely my personal opinion and does not constitute any investment advice.
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