Bitcoin continued to fall yesterday with Mentougou and the adjustment of US stocks at night. It fell to around 58,000 in one go at 4 a.m., but then immediately recovered above the 60,000 mark and has now returned to around 61,000.

At the weekly level, if it recovers above 63,000 this week, then the weekly level will have completed the pin-spiking behavior this week, which means that around 58,000 is the support position under the strong market consensus, so the market has at least expected it.

At the 4-hour level, it is currently in the oversold rebound stage. It is necessary to continue to judge the support of the 4-hour level. It is estimated that there will be continuous adjustments or repeated fluctuations.