On the 3rd, Bitcoin rose from US$58,811 per coin, first stabilized at US$60,000 and then broke through US$63,000 again, rising to a maximum of US$63,333 per coin, an increase of US$4,522, or 7.7%. Today, Bitcoin continued to rise to US$63,595 per coin before falling slightly. Bitcoin rose from a minimum of US$56,552 to today's maximum of US$63,595, an increase of US$7,043, or more than 12.5%. Has Bitcoin really stopped falling and ended the adjustment and started to reverse?
Has Bitcoin really stopped falling and stabilized and rebounded? The current situation is indeed that it has stopped falling and rebounded, but it still cannot be judged as a reversal of the market. If 56552 USD is the bottom of Bitcoin, this wave of rise must first stand above 60000 USD, which has also happened. Another point of view is 66000 USD. Only when it rises above 66000 USD can we truly judge the end of Bitcoin adjustment and start to reverse. However, Bitcoin rose sharply yesterday, and fell back after reaching the highest position of 63595 USD. There is a certain pressure near 63000 USD, which is also an important pressure position in the short term. If this position can be effectively broken through, it is possible to stand above 66000 USD. If it cannot break through 63000 USD, then this wave of decline and rebound may end at this position. So today we still need to pay attention to whether 63000 USD can be effectively broken through and stand at 63000 USD. Breaking through 66000 USD is regarded as a real reversal of the market from falling to rising. If it cannot break through and stand at 63000 USD, it is regarded as the end of the rebound in the decline. In this way, we can clearly analyze the possibility of Bitcoin's rise and fall in the future through the trend of Bitcoin today.
Similarly, if Bitcoin cannot continue to rise and break through $63,000, it will once again test the $60,000 position. This position also has a certain supporting role. The trend of Bitcoin in the next three days is very important and may have a profound impact on the future trend of Bitcoin. Whether Bitcoin continues to break through $66,000 or chooses to end the rebound and continue to pull back around $63,000, we need to focus on the trend of Bitcoin in the next three days.
Investing in the cryptocurrency world is not easy. Large fluctuations do bring good profit opportunities, but they also face huge risks. These two are natural characteristics. If you want high returns, you have to take high risks. This is only possible if you don't play futures and don't add leverage. This is the important reason why I often remind fans not to add leverage. You can do it right 99 times and get several times the profit, but if you make a mistake once, everything will go back to zero. This is the real risk of futures. It is difficult to keep a clear and rational mind in the cryptocurrency world. There are even fewer people who want to keep rationality in the futures market. In the end, they all lose everything.
