Bitcoin finally ushered in a correction, which is a necessary adjustment for a healthy rise.

Yesterday, BTC began its correction after rising to 53,000, and fell below 64,000 in the middle of the night. Everyone was speculating on what the reasons or bad news were that led to the decline. In fact, the real reason is that if it rises too much, it will fall, and if it falls too much, it will naturally rise. It rebounded from 53,000 to 66,000 in less than 10 days, and the increase has reached 24%. It just rose too fast. People who bought at the bottom sold some of their goods. A correction must be experienced, which is normal. A good correction is the basis for a healthy rise. There is no market that has been rising all the time, and there is no market that has been falling all the time. The K-line will never be a straight line, but will always be ups and downs.

From the K-line, the 1-hour level is an upward trend, the 4-hour level is in a downward trend, and the 12-hour daily level is still in an upward trend. The intraday support level is 63150 and the pressure level is 66200.