Although adjustments are expected and there will be declines, I didn't expect the decline to be so large. I can only comfort myself and wait patiently for the convergence of the three lines in the middle of the month. The more thorough the wash, the stronger the outbreak. I firmly believe that the bull market will eventually come.

Back to the market analysis:

Bitcoin (BTC) did not stop falling at $60,800, and fell directly to the second support level of $58,700 in the morning.

The frequent issuance of new coins has exhausted the funds in the market, and the lack of leading star tracks has led to the market decline.

The mid-term recovery may have to wait until the time window in mid-July, when we need to pay attention to the bottom characteristics.

After BTC's three consecutive negative lines on the daily line, the short-term has entered an oversold state.

The $58,000 area can stay for at least three trading days. Even if it falls below it during the day, it will be pulled back, which provides opportunities for short-term traders.

In terms of operation, you can look for currencies with larger fluctuations and use the BTC downside opportunity to grab the rebound simultaneously.

BTC's short-term pressure level is between $60,390 and $60,850, and its short-term support level is between $58,250 and $57,520.

Mid-term recommendations are to wait until the bottom is confirmed before entering the market or changing chips.

Currently, it is recommended not to buy or sell. If you are itching to do so, you can try short-term operations and speculate to see if you can seize a small opportunity.

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