#BTC价格

After Btc rose sharply on 2023/10/23 and returned to the large upward trend channel (pink track), the overall upward trend ran along the middle track of the green channel, even before the BTC ETF passed If there is a trend of rapid decline and short selling, it can stand back above the trend line at the close, so at that time, the market was still bullish.

However, after the ETF passed, the BTC price repeatedly rose above 44,500 and then rose to around 49,000 US dollars. During this period, the trading volume was amplified, and the price rose to 49,000 US dollars and also touched the long-term upward trend channel (pink channel). Follow the upper track of the short-term upward channel (green channel). And hit the suppression of the long trend line.

After hitting the pressure level, it fell rapidly and officially fell below the rising trend line since 10/23. Therefore, I believe that the short-term upward trend will come to an end and will shift to a wide range of US$40,000-50,000.

After the rapid decline in the market outlook, there are no buyers entering the market, the rebound on the right side is also relatively weak, and the overall market is still looking for support downwards. The overall short position gradually accumulates. During the decline, beware of exploding short orders.