Predict the trend of BTC, as shown in the figure below. The support of the 50,000 area is more critical. The 200-day moving average, the dividing line between bulls and bears mentioned above, has been broken. In the short term, there will be no large institutions entering the market. Coupled with FUD sentiment, it is difficult for BTC to stand on the 200-day moving average. There is a high probability of a rebound at 50,000, but considering the pessimistic stock market situation, the rebound may not be strong. Normally, it will rebound to around 55,000 (as shown in Figure 2) and then follow the FUD sentiment to continue to break down and test the 50,000 mark. If it falls below, the next target is around 43,000!
In the past 24 hours, a total of 300,759 people were liquidated, and the total amount of liquidation was $1.134 billion. It was another bloodbath day! But everyone is not too pessimistic. The big drop is for a better rise. Don't forget that there is a gap waiting to be repaired near 60,000. We will take action after stabilization and wait for the big bull. Now try to do less and watch more, and keep your bullets!
