Several reasons for the recent volatility and decline of Bitcoin:
1. The distance between the K-line and the moving average at the weekly level is too large, and it takes time to narrow this spatial gap to restore the stickiness of the price.
2. The MACD fast and slow lines at the weekly level have a dead cross downward. Usually, this situation takes at least a few weeks to return to the zero axis. Only after the fast and slow lines turn upward can the market show an upward trend.
3. The ant channel that is about to close at the daily level indicates risks. Once closed, the possibility of breaking through 60,000 will increase. In the later period, the market may accelerate its decline, with the support below at around 57,000-53,000, and may even test the limit level near 48,000.
4. The four-hour level is below the 200-day moving average, indicating that the market is in the short side. Unless there is a large-volume reversal, the price is likely to continue to move downward along the ant channel.
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