CoinVoice recently learned that EMC Labs, a crypto asset investment research institution, published a post on the X platform saying that BTC fell sharply to $58,400 yesterday, approaching the low point of the adjustment in early May but did not fall below it. It re-tested the lower edge of the new high adjustment box and probed the rising trend line formed since October last year. In addition, the effective increase in trading volume shows that there is a large amount of funds in the $58,000-60,000 range to take over the selling.
According to the eMerge engine, short-term traders as a whole have entered a floating loss state, and yesterday they sold 28,000 BTC at a loss, realizing a loss of over 100 million US dollars. At present, the market fear & greed index has fallen to 30, entering the "fear" range. Based on the comprehensive technical indicators, support levels, and market conditions, EMC Labs determines 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. [Original link]