5.9 Bitcoin fell again! Is a big crash coming? You should pay attention to these situations!
Bitcoin fell quietly again in the early morning. The current lowest price point is around 61,000. Now the price rebounded slightly to 61,500. Yesterday's daily line continued to close with a negative line, which has been three consecutive negative lines. Each negative line is accompanied by a long upper shadow line, and the price closed at the lowest point.
This means that the bulls are trying to rebound every day, but unfortunately, the bears are stronger and smashed the price down. Even at the closing, it closed at the lowest point, which looks like a crushing strength.
If this situation continues, the possibility of continued price decline is very high. If the price continues to fall, then the target is likely to be the lower track of the daily Bollinger band. The current lower track is around 59,000, which means that the price is likely to fall below 60,000 again.
Then the daily MACD is also in a bad situation. Now it can be clearly observed that the MACD fast and slow lines have begun to form a dead cross below the zero axis. If the price continues to rebound today and is unable to continue to fall, then the fast and slow lines will definitely form a dead cross below the zero axis, and the downward trend will be established.
So for now, there is still the last hope for bulls today. Bulls can expect today's price rebound to be stronger, otherwise, you have to consider whether to leave the market and run away!
Why do you say that? As shown in the figure, Bitcoin is now beginning to form a channel downtrend. If the price continues to fall today, the MACD below will definitely form a dead cross. Then, according to the trend of this dead cross, the downward trend will definitely be large, and then continue to fall along this downward channel, then the expected target point will fall to around 52,000, so I said that the current situation is very important, and today's market is very important!
And judging from the market situation, if the bulls want to reverse again and enter a bullish trend, the price must continue to rebound and break through the downward trend line in the chart. That is, the price needs to rebound back to around 63,000 before the bullish trend can come back again!
