$BTC 8.3 Bitcoin Market Analysis
The overall Bitcoin market fell sharply yesterday, and the current market has reached a first-line position of around 61,000.
From the high point of 70,081, it was originally believed that the five-wave decline had been completed, but in reality, a false breakthrough occurred and the low point was broken again, forming a downward expansion multi-zigzag structure. At present, it seems that the third zigzag may be formed.
Although this wave of decline is more torturous, there is no new change in the overall structure. For the current situation of being trapped, it is recommended that partners with heavy positions reduce their positions, and partners with light positions stabilize, and wait until the third zigzag decline is completed before adding positions below 60,000.
For those with heavy long positions, reduce their positions and add long positions below 60,000.
