Over the past two days, the B-chain has experienced a correction. Ethereum has failed to break its all-time high, and Bitcoin has fallen sharply after reaching 120,000 twice in a row.
During the recent surge, many people were saying that this round of gains was a trap, and that Bitcoin would experience another period of volatility, similar to previous ones, while other currencies plummeted. The market's recent performance has been met with growing concern and fear.
Some also say that even in a bull market, every surge must be followed by a sharp decline before a new surge. Many compare Bitcoin's previous rallies to Bitcoin, which has always experienced a 30% correction before each one. Will this time replicate that trend?
First, let's determine whether Bitcoin is currently in a bull or bear market.
Determining the trend will resolve subsequent confusion. If the bull market is over, then there's no need to worry about other issues.
As the chart shows, Bitcoin began its rise from 15,487. So far, the highs and lows have been rising, constantly breaking through resistance, and the lows have been rising with each pullback.
The overall trend is currently moving to the left of the trend line, and there are currently no signs of a potential break below it.
The truth is simple. Don't focus on this thin trend line; it's a crucial element in determining bull and bear markets.
When Bitcoin begins to attempt to break below the trend line, repeatedly breaching it, and is accompanied by strong bearish signals, it indicates a potential trend reversal.
But for now, there's no doubt that this is a bull market, a healthy one.
$BTC $ETH #美联储取消创新活动监管计划 #美国7月PPI年率高于预期 #中国投资者涌向印尼
During the recent surge, many people were saying that this round of gains was a trap, and that Bitcoin would experience another period of volatility, similar to previous ones, while other currencies plummeted. The market's recent performance has been met with growing concern and fear.
Some also say that even in a bull market, every surge must be followed by a sharp decline before a new surge. Many compare Bitcoin's previous rallies to Bitcoin, which has always experienced a 30% correction before each one. Will this time replicate that trend?
First, let's determine whether Bitcoin is currently in a bull or bear market.
Determining the trend will resolve subsequent confusion. If the bull market is over, then there's no need to worry about other issues.
As the chart shows, Bitcoin began its rise from 15,487. So far, the highs and lows have been rising, constantly breaking through resistance, and the lows have been rising with each pullback.
The overall trend is currently moving to the left of the trend line, and there are currently no signs of a potential break below it.
The truth is simple. Don't focus on this thin trend line; it's a crucial element in determining bull and bear markets.
When Bitcoin begins to attempt to break below the trend line, repeatedly breaching it, and is accompanied by strong bearish signals, it indicates a potential trend reversal.
But for now, there's no doubt that this is a bull market, a healthy one.
$BTC $ETH #美联储取消创新活动监管计划 #美国7月PPI年率高于预期 #中国投资者涌向印尼