$BTC has fallen below the 50-day moving average. This decline may not be able to stop and continue to fall. If there is no news of more support in the market, the $64,000 position may soon be reached.
Daily BTC has tested the resistance of the trend line on the falling channel for 4 consecutive times. If it goes to the previous low position again, it will be another drop of nearly 20%.
Next, the direction of BTC will be adjusted to look for support near the bottom of $64,000. Even the support position of the 100-day moving average is the midline position of the falling channel. The key position is very worthy of attention.
In addition, regarding the issue of interest rate cuts, it is worth noting that the year-on-year increase in the past two months has remained at 5.3%, which may mean that the Federal Reserve has almost no room for interest rate cuts, at least before September.
