After the previous stage breakthrough of 67,000 US dollars, there was a decline, which led many people to think that the rebound was over, and they began to be unanimously bearish. However, after falling below 65,000 US dollars, it rose again. Why is this?

Some even say that U.S. stocks are all falling, so why can BTC rise independently?

On the one hand, it was stimulated by the positive financial report of BlackRock, and on the other hand, there was no substantial negative news, so the price of BTC is still relatively strong.

Looking back at the BTC data, the continuous upward sentiment did not bring about panic selling. Short-term investors who had already made profits still left the market the most, while earlier investors had almost no reaction.

Facts have once again proved that as long as the dense chip concentration area of ​​64,000 US dollars to 69,000 US dollars is not broken, the price of BTC will be relatively stable, and even if it falls below, it will rebound because investors in this range have very strong consistency.

This is the sixth time. In particular, $60,000 has gradually become the bottom consensus.

As long as there is no actual negative news, investors in the concentrated chip concentration area will not leave the market at the same time, and the impact on the BTC price will be very low. Moreover, the more concentrated the chip concentration area is, the stronger the absorption capacity is.

BTC rose and fell sharply yesterday and once again reached 67,000. The entire network had a liquidation of 165 million. It is a good thing to clean up. Both long and short positions were cleaned out, which is conducive to the main force to break through 70,000. It feels like the last bull market Bitcoin callback copycat pin.

At this point, whether it is Bitcoin or altcoins, volatility will become relatively high. I seem to smell the scent of a bull market.

I don't know how the market will go, but I know what to do

1. Hold the low-priced chips well, and it is necessary to make profits and resist retracement. Be good at making sticky candy. I don’t know whether the bull market is coming, but I know that there is a possibility;

2. Don’t operate too frequently. Why did you do it earlier? Open an order now.

3. You must maintain a good mood, mentality, and mental state here.

Once you get into a state of excitement due to operational errors here, if the bull market really comes, you will be ruined. The worst case scenario is that you will make more and more mistakes, and then lose money in the main uptrend of the bull market, and your mentality will completely collapse.

Will this extreme market situation happen again in the future?

The rotation of large cycles is the law of the market. Every alternation between bull and bear markets will have a signature K-line trend. As long as the K-line frequently shows long upper shadows or cross stars when impacting the upper track of the weekly boll, this is a signal that the bull market is about to face a correction. The more violent the bull market rises, the greater the force of the correction.

Looking back over the past year, BTC started at around $30,000 in October last year and rose to $73,000 in March this year. It took a full six months to rise to $40,000, and then the correction in April quickly returned to $24,000, which is exactly 0.618 of the correction range from the highest point to the lowest point. Many people know that this is a magical number.

If BTC breaks through $73,000 steadily and rushes towards $100,000 in the future, it will most likely adjust around $78,000 in the short term. $78,000 is a very critical support level. If the market goes up to $100,000 again, this point will become the main area for the battle between long and short positions. If bad news breaks out, it may fall back to between $73,000 and $66,000, which is the halving zone. In the short term, BTC has violent fluctuations every time it rises around $10,000. For example, it may rebound again after a correction of $10,000 to $12,000, forming a higher point.

Therefore, as long as the market confirms that it has gone out of the unilateral upward trend, the volatility will become more intense. Short-term operations and contract leverage will bring great profit opportunities, and the market will provide more opportunities to double for those who wait patiently.

In the next few weeks, we will enter an uptrend phase driven by multiple bullish factors

1. Promote interest rate cuts in the United States and China

2. The US election is approaching

3. FTX spending will reach $16 billion starting in Q4

4. Possible changes in China’s cryptocurrency regulation

The price action we are seeing today is the same as it was before the massive bull run of 2020 began.

I dare not say that the current market situation is the restart of the bull market, but there is no problem with the current rhythm.

The bottom price is constantly raised, and after a rapid rise, it will start a big correction with large fluctuations, and it will go up and down. Control your position well, and take profit when it rises a lot, such as BOME.

Hold on to what you can hold on to, don’t be easily washed out, the contract leverage must be small, and try not to play it.

Learn to be a T but also be able to be a T, seize the last chance!