The recent market correction has caused panic in many people, especially new investors, who have heard different voices in various community groups and are confused about the future.
How will the market go next? What are the initial signals of stopping the decline?
Today's market has been weaker than expected since Powell's speech. Since the current round of 90,000, it has experienced three rapid plunges, and today is the fourth.
It can be said that the first three plunges consumed a lot of buying, so there was not much buying on the market after this plunge. Instead, there was a negative decline after sideways trading, which was equivalent to burying the bottom-fishing funds again. There is no large-scale fundamentals for Bitcoin, and institutions are also continuing to increase their holdings. It is expected to consolidate around 100,000. In the long run, it will continue to rise. The continued decline is also without volume, which can be regarded as continuing to consolidate in this range. All the rises must be consolidated before moving to the next step.
