💫 Bitcoin (BTC) monthly line ended seven consecutive rises. Will it fall below $55,000 next? Is the bull market still in the currency circle? 🌻
🔻 Bitcoin monthly line closed. After seven months of long-term rise, it pulled back. A bearish engulfing pattern appeared. Is the bull market over?
🔻 Although the monthly line did not break a new high, the pullback was a shrinking short volume, indicating that the air force was relatively weak. Bitcoin is currently in the middle of the bull market, and it has stepped back to the important support position formed by the dense trading area formed by the previous bull market.
🔻 In the context of the bull market trend, the long indicators will be strengthened and the short indicators will be weakened. Therefore, there may be a pullback, but the magnitude should not be large. Especially the expectation of interest rate cuts and the landing of Bitcoin and Ethereum spot ETFs, let us not worry too much.
🔻This bull market is different from the previous one. The probability of Wanbi rising is decreasing. If we want to make money in the next market, we need to have a detailed understanding and research on the bull market track and hot spots, and be able to correctly analyze the market to judge what is the relative low point to enter the market and the relative high point to escape the top and cash out in time.
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