Bitcoin continued to fall yesterday with Mentougou and the adjustment of the US stock market sentiment 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 complete the pin-in behavior this week, which means that around 58,000 is the support position under the strong consensus of the market, so that the market level at least has expectations in mind.

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 it will continue to adjust or fluctuate repeatedly.

However, I have said before that the cottage basically cannot fall. The decline of Bitcoin last night did not lead to the collapse of the cottage. Since this wave of decline since April, the cottage has continued to fall and adjust for more than two months, basically reaching the bottom, so after the market stabilizes, the cottage will usher in a rebound, so wait and see.