This morning, the price of Bitcoin suddenly rose and broke through the $68,000 mark, which triggered widespread speculation in the market as to whether the price of Bitcoin was heading straight for $70,000 or whether this was just an illusion to induce investors to buy.

From the one-hour candlestick chart, the price of Bitcoin rushed to $68,260 this morning, forming an obvious short-term triple top pattern with the previous two highs. Regardless of whether a new high can be reached here, our trading strategy remains unchanged, that is, to open short positions in batches at high levels.

If the price of Bitcoin lingers around $68,000 for a longer time before changing, the more investors may be trapped. As we discussed earlier, by observing the one-hour and four-hour candlestick charts, we can see signs of short-term adjustments, falling from $68,400 to $66,600, a drop of nearly two thousand dollars.

To judge a larger level of adjustment, it is necessary to observe the trend at the daily level, and this change may come soon. It is highly likely that the price of Bitcoin will consolidate sideways during the coming weekend and then choose a direction again. Therefore, we need to wait patiently and be prepared to make swing trades within the price range.