The market has been volatile recently.

From a technical perspective, after a five-wave decline, Bitcoin has developed a three-wave technical pattern. From October 1 to October 3, Bitcoin fell sharply below $60,000, and then rebounded quickly. At present, the price of Bitcoin is fluctuating around $62,000.

The price of Bitcoin did not fluctuate greatly over the weekend, and the back-and-forth fluctuations will cause many people to reduce their positions and feel frustrated. However, the current upward trend of Bitcoin has not been broken, so friends who enter the market do not need to panic too much.

Bitcoin is currently in a four-wave correction state, with a support level of 60,000 and a pressure level of 62,500. If it breaks through 62,500, it will usher in a new five-wave surge. If it fails to break through, it will still fluctuate in the range of 60,000 to 62,500. Only by breaking the existing oscillation pattern can there be a large wave of ups and downs. I hope that all friends can keep calm and wait and see.

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