10.8 There is no reason for a big drop, continue to buy the bottom and go long.
Pay attention, 64700 is the key resistance of Bitcoin. Only after breaking through, the bulls are safe. I am afraid of procrastination. Can it continue to attack and stabilize at 64700? There will probably be an answer in the next two days. The direction will be revealed when the US CPI data is released on Thursday at the latest.
If there is no accident, this wave of decline is over, and the logic of continuing to be bullish remains unchanged.
Bitcoin also has a key position that is very important, that is 64100, because this is the bearish order block of the entire wave of decline, and it is more than 50% of the Fibonacci retracement, which belongs to the premium zone. Generally speaking, the premium zone bearish order block is filled or broken by large volume, and the probability of continuing to be bullish in the future is relatively high.
There is no reason for the market to fall sharply again. A sharp drop will only make big investors copy cheap chips, because the bulls have swept the stop loss. When the support of 62000 is broken, where do you think the main target will be pulled to next? You have to think like this: when the price breaks through a certain position, there will be many short orders with stop loss. The main goal is to hunt down the most stop loss. If you are not satisfied with the recent market operation, please consult btc0796 and find me to discuss the market.
Bitcoin retracement: 61500-62000, target 63000-64000, defense 61000
Ether retracement: 2370-2400, target 2450-2500, defense 2330
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