#twoscripts
This wave of correction is a very common adjustment in a bull market. It should be regarded as this round of major adjustment after it stood on the 120-day moving average on October 19, 2023 until it broke the previous high of 69,000 a few days ago. According to the 17-year path, it will fall to the 120-day moving average with a drop of 30%. According to the 21-year The decline method is also about 25-30%. It is estimated that it can be adjusted to the middle position of the 60-day and 120-day moving averages, near 55,000. The minimum will not fall below 52,000. Some people think it will fall below 50,000, but I don’t think it will, because Once the trend is confirmed and the market starts, it is difficult to change. It is said that the current mining cost of BTC is almost more than 40,000 US dollars. After the halving in mid-April, it should be almost 80,000-90,000 US dollars. Then it is certain that the price of BTC will rise to this level in the next round.
There are two scenarios, one is to fall directly to the position, and BTC has been diverging from the top continuously in the first 12 hours. It is suitable to fall to the position once, and the adjustment time is good enough. The other is to bounce up again, breaking 73,000 to form a double top, which can bring more High leverage will kill you, but the adjustment time must be appropriately extended. When I took the screenshot, it was still 65,600. Just now, the needle went down to 64,600. I feel that the first way is more suitable.
It feels like rubbish after so many words: it’s either going up or down, and we don’t rule out the possibility of going sideways 😂😂😂
Anyway, non-stick pan😏😏😏
