After the Bitcoin halving, the market suddenly entered a cold mode, catching many people off guard. This round of market conditions started from the rebound in the fourth quarter of last year, and then to the bull market in the first quarter of this year. The hyped things are basically tracks without any new ideas.

Except for the Bitcoin track, there is no innovation at all. Retail investors are tired of the highly valued VC disk, which leads to the prevalence of meme. After a short period of prosperity, it is difficult to maintain the market trend for a long time without innovative gameplay. So we saw that the whole month of May will enter a continuous adjustment period. Everyone should be fully prepared.

Disk information sorting

1. 73777→56553 is the first stage of adjustment, and the level targeted is the rise from 15476→73777

2. 56553→now is the second stage of adjustment, and the level targeted is the retracement from 73777→56553

3. This adjustment has lasted for 61 days at present

Analysis

1. Under the extremely tight liquidity situation at the weekend, the market did not effectively break the previous low of 60630, but did not break the integer mark of 60000

2. Similarly, the highest point of the small-level rebound is 61888, and it failed to break through the 0.5 Fibonacci position of this small-level decline, and there is no sign of strengthening

3. At present, two attempts to break through the 0.5 Fibonacci position of the small-level decline failed, and the bear flag pattern was formed, which is bearish, but the level is too small and the stability is not high

4. At present, both the large and small levels are in a state of buying and selling balance, which needs to be broken by inducements

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