Yesterday Monday closed the weekly line, let's take a look at the trend of the weekly line.Last week we talked about the trend of Bitcoin, and although it has risen to near the pressure level, the positive line has not increased, and the market will continue to fluctuate
Yesterday Monday closed the weekly line, let's take a look at the trend of the weekly line.
Last week we talked about the trend of Bitcoin, and although it has risen to near the pressure level, the positive line has not increased, and the market will continue to fluctuate.
In recent days, Bitcoin has made a short-term correction, which has led many people to call for a new low again.
The market is very interesting. Some people say that a bull market is coming when it rises, and a bear market is still there when it falls. The changes are fast and faster than the weather changes in summer.
Doing transactions like this is not only tiring, but also not easy to obtain results. The key is to take advantage of the situation and act accordingly.
From a weekly perspective, Bitcoin is currently a rebound market after entering a downward trend.
As mentioned earlier, $25000 is definitely not the end of a double dip, and there is a high probability that it will continue to decline after the shock ends.
Based on the following:
1. Bitcoin rebounded near the neck line of the double top above but did not rise, indicating a high level of pressure above.
2. Last week, a cross line appeared, forming a pregnant line with the previous positive line, indicating that the market is about to enter a volatile period.
3. Within the entire oscillation zone, the rebound has shrunk, indicating that the strength of the rebound is very weak.
4. A stagflation signal near the pressure level will strengthen the bearish indicator, indicating that there is not much room for further upward movement in the future.
5. The pregnancy line that appears near an important pressure level can be seen as a reversal signal.
From the above analysis, it can be seen that the rebound of BTC is probably over.
But it doesn't mean it will immediately fall.
It is possible that the market will continue to fluctuate within this large fluctuation zone. From the overall analysis of the market, it can be concluded that there is currently no condition to directly fall below $25000.
We need to continue to wait for time and opportunity.
Bitcoin volatility does not mean that all currencies will fluctuate, and strong counterfeit currencies will continue to rise.
The above analysis only represents personal opinions and does not represent any investment suggestions.
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