Bitcoin continues to fall, is $50,000 the real bottom?

This round of decline has been going on for nearly 30 days, which is extremely painful. It has been fluctuating between 60,000 and 65,000 US dollars, breaking through from time to time, and then breaking the previous low. There is no rules or logic, so most people lose patience. These are what everyone needs to experience. Whether it is a bull market or a bear market, the volatile market basically occupies about 70% of the time. Because the occurrence of trends is staged and will not end all at once, otherwise everyone will make a lot of money, how can this good thing happen? The recent market situation should still be based on the market. Whether it rises or falls, it is inseparable from the strength between the K-line and the volume. This is the 5-day trend chart of Bitcoin. The oscillation range in the figure also includes all the K-lines. There are 2 very obvious downward trends in it. The first wave was very urgent and lasted for a short time. After the sharp drop, it was quickly pulled up by the bulls. The second wave of decline was obviously different. It lasted twice as long as the first wave, and the downward space was also larger. The key is that the second wave also broke the important support level of 60,000 US dollars and reached 56,000 US dollars. Judging from the above K-line trend, the bears are stronger. However, the focus is also the second wave of breaking below 60,000 US dollars. The subsequent market did not continue to fall and closed with a positive line. This very strong downward trend was intercepted, and the K-line also took a piercing pattern. However, the long volume is not very strong, which is a flaw, but it can also show that the 60,000 US dollar position has support. There is strong pressure above and support below. The long-short game is still going on. At present, both sides have not been able to have an absolute advantage. The follow-up is still dominated by shocks, and we have to continue to be patient and wait for the final winner to appear. However, in terms of the overall environment: Bitcoin ETF and halving market, or Ethereum's Cancun upgrade, are all good for the currency circle. With the support of this fundamental, capital and news, it may add a few points to the currency circle. The last step depends on how the technical side goes. Friends who have time should watch the market more and pay attention to the large-scale trend. Whether it is rising or falling, perhaps around mid-May, there should be a result. #BTC