Is there no room for Bitcoin to fall?
As of July 5, the price of Bitcoin stopped falling after forming a hammer line. Currently, the market has entered a shock stage, and the power of shorts has gradually weakened. Despite the pullback, it has not yet broken through the previous low, and $60,000 remains the key pressure level above. Recent trends show that despite the pressure, the market has not fallen significantly, which also verifies the decline of short power.
The current price is at the pressure position of the daily BOLL mid-track, and the power of bulls has not yet shown a significant increase. In the medium term, Bitcoin may continue to maintain a volatile trend.
The CPI data released on July 11 was obviously positive, but the market did not show an obvious upward reaction. My personal opinion is that the market may be brewing for a big rise. Although the positive CPI should have attracted investors who traded based on the news, the market did not rise for two consecutive days, making investors begin to have doubts. At this time, bears may claim that "all the good is bad", causing originally bullish investors to choose to wait and see.
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