After the weekend, Bitcoin began to fluctuate and fall. The US stock market may be tested this week, but it will not open today. Bitcoin may consolidate and fall, but we also need to see whether the adjustment of the US stock market will lead to problems for Bitcoin. After all, the rebound from 24800 was the result of the hard-won efforts of the bulls, which was stimulated by the SEC news. If it continues to lose ground, it will not be fatal, but it will continue to increase the adjustment time, which is more troublesome.

After the oversold rebound of the cottage, it has entered a second decline. I said before that the cottage is not a reversal, and it is likely to enter a shock. Now it is just continuing to form a box, and it is hard to say whether it has bottomed out in the medium term. This market is not interesting for the time being, so let's continue to watch the shock. Bread also needs some time. Whether it continues to be above 24,800 or falls, the structure has reached the mid-to-late stage, so it is not meaningful to be overly bearish. And one thing that needs attention is whether the crash of the U.S. stock market on Friday (a large amount) will trigger a further major adjustment this week, and on this basis, see whether Bread continues to decouple from the U.S. stock market. If it decouples, then things will be easier to do. If the U.S. stock market falls slightly and Bread falls sharply, then the situation will be complicated again. But overall, it cannot be said that the bottom has been reached after 3.1w, but it can be said that it is not too far from the bottom. #BTC #sec