Thursday’s red candle was the nastiest since June. More than $1.2 billion in liquidations hit the market in 24 hours, mostly on long positions.$BTC It slid all the way to around this line before finally stopping. The Nasdaq rebounded yesterday, but it’s still lying right where it was.

Bitcoin is now sitting right on the 50-week moving average, at around $75,500. Since reclaiming this line in mid-September, it has closed above it every week. This line has been the floor for the rally since September. Hold it, and the floor is still there; break below it, and it’s gone.

After the jobs data came in hotter than expected, rate-hike worries have resurfaced, so we can’t count on macro factors for now. In a panic, don’t just look at what’s fallen hardest—first look at what hasn’t fallen. $INJ rose against the tide during yesterday’s broad sell-off, and it’s still holding today without giving back those gains. The first wave of rebound money always looks for coins like this.

Support won't hold; buying the dip is like catching a falling knife. Don't just check price movements this weekend—watch where this weekly candle closes. It's far more useful than guessing whether prices will rise or fall tomorrow.

#比特币 #BTC