Important news! !
Important news! !
From a personal subjective perspective, when the price of Bitcoin falls below the threshold of 53,000, it is expected that more than 80% of mining machines will face the dilemma of shutdown, because the possibility of long-term operation at this price level seems particularly slim.
In terms of market sentiment, after nearly a month of continuous fluctuations and declines, the market has been in extreme panic.
The prices of many altcoins and mainstream digital currencies have reached historical lows, which is in sharp contrast to the overall imbalance of the current market.
It is worth noting that although they have experienced a small correction near the historical highs, many altcoins are hovering on the edge of a new historical low. This difference further exacerbates the complexity and uncertainty of the market.
Based on the above analysis, I subjectively judge that the low point of this round of Bitcoin's correction is likely to be difficult to effectively break through the support level of 49,000, and then it is expected to rebound.
From the weekly technical chart, once the current correction phase ends, it indicates that a new round of weekly level rising market comparable to the increase in the 15476 to 73777 range will begin.
Therefore, I firmly believe that the biggest opportunity of this round of bull market is coming, and the start of the weekly level rise in the future will lead the market into a strong upward trend that will last for more than half a year.
Looking forward to the next July and August, this will be the golden period for the layout of the next round of rising market.
At present, we should remain patient and wait for the completion of the third daily level decline structure so as to enter the market at the right time.
At the same time, Ethereum is currently in the second wave of 1-hour level rebound in the 4-hour level decline cycle. It is expected that this round of rebound will try to touch the range of 3040 to 3060.
We need to pay close attention to the subsequent trend of this round of rebound, as well as the third wave of 1-hour level decline that may come later, especially whether the key position of 2750 will become its next support point.
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