Big things are coming! Buy the bottom of Bitcoin, and the altcoins are about to start?

1. The price of Bitcoin on the weekly chart has reached the 120-day moving average, and the golden section line 0.382 support point. The probability of breaking a new low again in the next period of time is low, and consolidation is the main focus.

2. This retracement to the RSI trend line may be an opportunity to buy the bottom. Since the middle of 22 years, the RSI trend line has become the signal for Bitcoin to buy the bottom every time.

However, the market will repeatedly test this trend line, and the price will repeatedly test the 120-day moving average. Every time it retracements, those with funds can repeatedly buy low, and the risk is to stop loss after breaking the position.

3. Many altcoins did not follow the decline this time, and the double bottom structure of the daily chart has taken shape.