$BTC
"Analysis of the Panic Spreading Market"~~ Where to find the bottom
The sharp drop in the past few days has brought panic to the market. Many speculations have arisen. Some say it is a war between Iran, some say it is a double yellow from the US Federal Reserve's interest rate cut, and some say that all funds have gone to the A-share market. Alas, in short, the people are suffering, "the prosperity of the people is suffering, and the decline of the people is suffering." In fact, the price of Bitcoin has not fallen much, from around 69,000 to around 60,000 now, but many altcoins are close to being cut in half. Poor small retail investors in the world, how can they survive, because Bitcoin is not just a drop that can be considered a dead end.
I don't know if you have noticed that the decline of Bitcoin this time is not accidental. In fact, the technical indicators have long shown a "line price top divergence". I am also stubborn and have to wait until the fall on Monday night before exiting. I always want to be greedy for a little bargain. I always feel that the big weekly K-line will change on Friday, so I can get out anyway. Alas, I got a ticket of 10 points, but it's a good thing I ran away, otherwise I would have lost 20 or 30 points now.
Let's not talk about the past, let's talk about the future, "how will the market go in the future, where is the bottom?" According to the analysis of the EMA main chart indicator, the current daily K has fallen below, and the three-day K will not be able to stop it, at least around the weekly K of 47,000 to 48,000. So all the old friends who have coins, don't rush to break out, and don't play dead. If you can reduce your position, reduce it. I'm not looking for returns, I don't take advantage of anyone, I don't take orders, I really know the difficulties of my small account, it's not easy!
Combined with the MACD daily K dead cross, there are only three negative bars, so 60,000 is far from the bottom. October must be a good time for people to build positions. I'm all in around 48,000~47,000! Honest advice is unpleasant to the ear, I hope you are all the right choice.
