413 tragedy in the cryptocurrency circle! Why did Bitcoin plummet? Has the correction peaked? Can it fall below 60,000?
Last night, the volatility was huge. Bitcoin fell by 5% and the altcoin fell by more than 20%. Today, we will analyze the reasons for the sharp drop. Has it reached the bottom? Where will it fall? How to operate?
Reasons for the sharp drop
(1) The Federal Reserve suddenly announced that it would cut interest rates once instead of three times. The expected discount of the interest rate cut was too large, which led to a direct plunge. However, it does not mean that there is no confidence.
(2) The three major US stock indexes fell collectively. The Dow fell by 1.24%, the Nasdaq fell by 1.62%, and the S&P 500 fell by 1.45%. Popular technology stocks fell across the board. Nvidia, Tesla, and Meta fell by more than 2%, and Microsoft and Google fell by more than 1%, which directly led to the collapse of the cryptocurrency circle.
(3) Bitcoin will be halved in one week, and the positive news will turn into negative news.
The current market is no longer the same size as before. It is different now. The factors of human intervention in the market are too strong. A negative news will become the fuse of liquidation. The contract liquidation is mainly long. Cultivate emotions to make you feel that it should rise near the golden cross, but the shrinking volume is weak, and then intervene in the liquidation unexpectedly.
In terms of Bitcoin 4 hours, although it has exceeded the small triangle near 68700, it is still adjusting in the large triangle area. Observe that the lowest pin was around 65058 last night and then pulled back to 67000, which is also near the 30-day moving average.
The weekly moving average is too high, and these need to be repaired. Now, the retracement of yesterday's high of 71,000~65,000 is less than 10%. In the bull market, 20% fluctuation adjustments are often seen. Now the main operation is too obvious, expanding some negative news to create panic, so that retail investors can see losses, or the account's short-term profit retracement goes back and forth, resulting in fewer and fewer retail investors' chips. When the real big market comes, it has nothing to do with them. When the chips are concentrated in the hands of the main force, the main force has the dominant voice!
Summary: The 4-hour level is mainly oscillating and repairing, and there is no sign of stopping the decline for the time being. Pay attention to stop loss and stop profit in the contract. The important support of the big triangle below is around 64,000~61,000.
This month, Bitcoin has been basically being washed out every day, and the price has been fluctuating between 60,000 and 73,000, with an amplitude of about 20%. This is an obvious feature of each halving month. The decline of small coins is a bit exaggerated, and many have fallen back to the price before the bull market started. Generally, BTC falls by 1%, ETH falls by 2%, and altcoins fall by more than 3%. Therefore, in order to withstand the decline, it is best for coin traders to use half of their positions to hoard Bitcoin, and allocate the rest of their positions to other mainstream coins such as ETH, SOL, and BNB.
Current operation suggestions
Reduce 3-5 layers of positions during the rebound, there will be a second drop, and then wait for the decline to stabilize and then take it back! 1. Left-side bottom-picking method: set an extremely low price, and bottom-pick once every 15% drop, similar to price fixed investment! 2. Right-side bottom-picking method: wait and see for now, and wait for confirmation of the decline to stabilize before entering the market! It is recommended to use the second bottom-picking method for safety.
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#比特币减半 #暴跌 #非农数据 #大盘走势 #SHIB
