Bitcoin experienced a repeated oscilliation from 60,000 to 61,000‼ Significicant market movment is about to happen‼ Is it going to surge to 80,000 or falling below 50,000⁉

The market reversal will not be so fast. The plunge may continue for a long time.

Therefore, Bitcoin once again fell below 60,000 from 72,000 and reach the 50,000 range. It is not likely that it will hit a new high again. The purpose of market manipulators initiated the washout to exploit investors to make money is quite obvious, so the downward trend will not end so quickly. Perhaps there will be a rally in the following market with an oscilliation below 65,000.

The overall downward trend will not be broken in a short time, and it is also not likely will hit the position of 70,000. If BTC want to hit $70,000 , it should have experienced an upsurge to break through the new high as early as it reached $72,000 last time, but it is obvious that the market has chosen to initate a pullback. Therefore, only when the market goes through a long-term period of washout after this pullback can BTC will rise. In a short period of time, it is still safer and more profitable to take advantage of this rally to go short. #ETFApprouval #MTGOX