According to ChainCatcher, EMC Labs, an investment research institution for crypto assets, analyzed that BTC fell sharply to $58,400 yesterday, approaching the low point of the adjustment in early May but not breaking through, retesting the lower edge of the new high adjustment box, and testing the rising trend line formed since October last year. In addition, the effective increase in trading volume shows that a large amount of funds in the $58,000-60,000 range have taken over the selling.
According to the eMerge engine, short-term traders as a whole have entered a floating loss state. Yesterday, they sold 28,000 BTC, realizing a loss of hundreds of millions of dollars. At present, the market fear & greed index has fallen to 30 and entered the "fear" range. Based on the comprehensive technical indicators, support levels, and market conditions, EMC Labs determined that the mid-term adjustment of BTC is likely to have ended, and the market will rebound at $58,400. In the extremely panic situation yesterday, 9% of the targets in the top 500 currencies have started to rebound. The trend of these projects can be focused on in the future market.