+ Wei: zyh03231 into the skirt to learn
Could Bitcoin Fall to $53,000?
Bitcoin, a cryptocurrency that once soared to $73,787, has been on a roller coaster ride lately, with prices falling more than 14 percent since its all-time high.
Investors are hesitant about the future trend of Bitcoin, and various speculations are heard in the market. Some experts have conducted an in-depth study of Bitcoin's weekly chart and found a worrying trend: a series of bearish candlestick chart patterns. This pattern suggests that if Bitcoin continues to fall, it may first fall to $61,100, then slide again to $56,685, and may eventually hit $51,530. However, this is only a possibility, and the actual trend is affected by a variety of market factors.
The price dynamics of Bitcoin are dizzying. It has fallen by more than 7.5% in the past 24 hours and more than 10% in the past 7 days, but has risen by 22% in the past 30 days. In such a complex market situation, investors are withdrawing profits and may see a few days of price adjustments.
Technical analysis shows that Bitcoin is currently showing some signs of "bears", as if it is teetering on the top of a mountain. Speculations from on-chain data also point out that a rebound in prices in the next few days may encounter resistance at $66,990 and $72,880. But these are just speculations, and the real market trend is by no means that simple.
It is worth noting that no matter from the macroeconomic environment, the Fed's policy, or the good news, the bear market argument is not supported. In a bull market, a 30% correction is very normal. In the current market conditions, unless you exit all at the high point, it is difficult to avoid being trapped. To make continuous profits in this market, you must be able to withstand temporary losses!
The market is never smooth sailing. Don't panic because of a temporary drop, and don't be blindly optimistic because of a continuous rise. You must stay calm and analyze the market in depth to stay invincible in this turbulent world of cryptocurrency.
Talk about a conspiracy theory that has not fallen to the right level (not necessarily correct, the market is unpredictable and needs to be treated with caution)
If the price of Bitcoin falls below $60,000, this range is likely to become the strongest support zone used by the main force to induce people to buy at the bottom. In short, only when the price fluctuates between $60,000 and $58,000 will it attract people to buy at the bottom, and then suddenly plummet, even falling below $55,000, or even to $53,000, forcing the bottom pickers to cut their losses before the bottom rebounds.
On the contrary, if we do not want to experience a correction of more than 30%, a bullish turn or a major wash-out, then last night's $62,500 to $60,000 may be the bottom of this stage.
The logic of the dog dealer is probably that they are unwilling to let those who are waiting to buy the bottom in the range of US$60,000 to US$58,000 cut their losses, so they must be disappointed and prevented from entering the market again.
Finally, I would like to emphasize the issue of leverage again. Recently, a friend of mine felt very painful because he added leverage at the top of the mountain. It is very common to experience a sharp drop of 20-25% in a bull market, so I strongly recommend not to use leverage. How important is it to protect cash assets?
I hope everyone will not turn investment into gambling, stay away from high leverage, and stay away from gambler mentality
Today’s article ends here. If you like it, please follow me. Thank you for your support!
