After the Bitcoin halving, the market fell into a cold state, and many people were caught off guard. From the rebound in the fourth quarter of last year to the bull market in the first quarter of this year, the market hype lacked innovation. Except for Bitcoin, there was almost no innovation in other fields. Retail investors are tired of the highly valued VC disk, which led to the prevalence of meme. Lacking the support of innovative gameplay, the market will enter a continuous adjustment period in May, and investors need to be mentally prepared.

Market information:

From 73777 to 56553 is the first stage of adjustment, targeting the rising segment from 15476 to 73777. From 56553 to now is the second stage of adjustment, targeting the retracement segment from 73777 to 56553. The current adjustment has lasted for 61 days.

Analysis:

Liquidity was extremely scarce on the weekend, and the market failed to effectively break the previous low of 60630, nor the integer mark of 60000. The highest point of the small-level rebound was 61888, and it failed to break through the Fibonacci 0.5 position of the small-level decline, and there was no sign of strengthening. Two attempts to break through the small-level Fibonacci 0.5 position failed, showing a bear flag pattern, bearish, but the level is too small and the stability is not high. At present, both the large and small levels are in a state of buying and selling balance, which needs to be broken by inducements.