🚨 **Market Update 08/31: Prepare for a Downtrend in September**
📉 **SHORT** 🔴
Bitcoin has established a **lower high** structure on the 3D chart at $65,100. Currently, there is an attempt to push the price to break the blue support trendline, aiming for **$55,xxx**, **$52,xxx**, **$49,xxx**, and **$46,xxx**.
📈 **LONG** 🟢
The longs are trying to maintain the price **above the blue support trendline** and target a breakout of the red **resistance** trendline to restore the uptrend.
👉 **Personal View**
Based on the current price structure, there is **reason to be concerned** about an upcoming downtrend for #Bitcoin.
If#Bitcoinends August at **$59,xxx-$60,xxx** with a red weekly candle, this could confirm the SHORT side's dominance, leading to a high probability of **breaking the green support trendline**.
⚠️ **Trading Strategy**
- **Prefer** shorting strategy when the price rebounds.
**Stop loss** at $65,100.
**Buy back**#BTConly when the price **breaks the red resistance trendline**.
Be cautious and watch closely! 🧐