Bitcoin market analysis:
The current price of Bitcoin has effectively fallen below 60,000. From a technical point of view, the level has touched the falling channel, so we need to pay attention to the effective support below in the short term.
The weekly support we saw yesterday was around 56,000. The multiple declines during the day did not effectively touch the support or test the support strength. The current price still needs to touch the support and then see the situation. Although the recent support strength is poor due to the overall deviation of market sentiment, the support below is basically at a large time level, so the effect of support still needs to be considered at present.
In addition to the current 56,000 weekly support, the monthly EMA7 supports 53,700 and the daily EMA200 supports 49,500. At present, we can pay attention to the situation of these two supports.
In theory, we are looking for support below to formulate plans for future trends, but currently looking for support does not mean that we can directly hit the support position in the short term. Please pay attention to this point.
In fact, considering the current economic environment and the sentiment of the financial market, the support triggers a buy order rebound and then continues to fall. This may be the basic trend in the near future.
