Macro positive vs. industry negative, how will it go? (2/2)

[Technical side]

1. Weekly: Bitcoin may form an M-head. If it successfully forms an M-head, the target value of the decline is about 40,000. Judging from the current miner cost after halving, the probability of forming an M-head is small.

2. Daily: Bitcoin fell below the 200-day moving average, and fell more than 20% from the high of 73777 to enter a technical bear market. This round of decline may go out of the five-wave decline. It is currently in the fourth wave adjustment. The probability of the fifth wave appearing a new low below 53485 is high, and the support range is 52000~51000.

3. 1 hour: Bitcoin broke through the downward trend line and formed a consolidation market. There is a possibility of challenging the 4-hour downward trend line around 60000. The support range is 55000~54500, and the pressure range moves up to 58400~60000.

【Market Setting and Suggestions】

1. $BTC The market has entered the stage of digesting known selling pressure. It is currently in the fourth wave of adjustment. The probability of a new low is high, but it has not fallen below 50,000, and it is still in a bull market.

2. Suggestions: BTC and ETH can be invested regularly.

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