BTC market trend analysis: BTC fell slightly and the altcoins plummeted. Is the bull market over?
1. BTC's lowest point in this wave was around 65,000, with a drop of more than 6,000 points in 24 hours. High-leverage accounts were almost emptied. The long orders of nearly 800 million US dollars in the entire network increased by about 623.08% compared with the previous day; although it rebounded to around 67,000, the market panicked.
2. Each round of decline seems to have a rootless source, such as the hawkish attitude of the Federal Reserve, reduced expectations for interest rate cuts, and rising geopolitical risks. But in fact, the main market operations do not need specific reasons, the purpose is just to transfer chips.
3. In fact, we also update the stock data of the exchange every day. The market crash is not enough to make investors hand over more chips. These are only short-term fluctuations. It is also normal for the altcoins to wash the market. After all, it only takes a few days to rise. At the same time, the stock of the exchange has once again refreshed the lowest record in six years.
4. The recent shocks have seen that the Shanzhai wash has used up its bullets, resulting in no way to cover positions in this round. We did not follow the previous plan to cover positions at two points (65000/61000), and did not tell everyone in advance to prepare for a long-term ambush.
5. The view remains unchanged: we just need to move down a box space (as shown in the figure). The current support is at 65000, and the risk point is still at 61000. By exchanging time for space, we will eventually achieve a new round of rise. We still see around 100,000, which may not break 100,000, but it must be around. 5. June is a high probability. April is a routine. Be prepared for the new market in May.
