Pie market observation on February 17, 2024 #Bitcoin‬

Today's pie fell from US$52,192.8 to US$50,647.5 during the day, with a daily decline of about 1% and a 2.9% fluctuation.

From a technical perspective, the mid-level $51,940-52,098 range structure has been completed. The small-level structure completed the final structural form of the $51880-52233 range,

There is a selling point at a small level in the short term, but the range is sufficient, and the price has returned to the support level to fluctuate.

There are two possibilities for the future trend: the first one continues to stand at the mid-level level of 52,098 US dollars and then challenges 52,859;

The second is to form a mid-level selling point near $51,940 for correction.

Recently, the market has experienced repeated ups and downs, with drastic changes in small bands and obvious capital games. Since we became bullish on January 23, the increase has reached 37%, and the need for corrections has increased.

Generally speaking, the current volatility is relatively large. Investors need to pay attention to technical signals and appropriately reduce the risk exposure of the position cycle.