I was busy yesterday and today, so I didn’t share a market analysis. But a few days ago, I made it very clear: in my opinion, any rebound from this level would just be an intermediate bounce before the decline continues. Today’s daily chart shows a long bearish candle, and the price has returned to the 81,300 support level. The direction from here is actually quite clear: the market will likely move sideways overall, with a downward bias.
The logic is simple:
① The macroeconomic backdrop isn’t strong enough to support a major rally.
② ETF inflows aren’t being driven by new capital.
③ A technical pullback is also due. On the weekly chart, the price needs to retest at least the EMA30. The weekly chart needs to form a consolidation range. On the daily chart, if 81,300 breaks and the MACD fast and slow lines cross below the zero line, this downtrend will be even more firmly established.
In my opinion, support levels below are: 75,000–70,500–66,700 (extreme)
$BTC
#比特币跌破8.4万美元
The logic is simple:
① The macroeconomic backdrop isn’t strong enough to support a major rally.
② ETF inflows aren’t being driven by new capital.
③ A technical pullback is also due. On the weekly chart, the price needs to retest at least the EMA30. The weekly chart needs to form a consolidation range. On the daily chart, if 81,300 breaks and the MACD fast and slow lines cross below the zero line, this downtrend will be even more firmly established.
In my opinion, support levels below are: 75,000–70,500–66,700 (extreme)
$BTC
#比特币跌破8.4万美元