$BTC

The decline of Bitcoin was expected, but it happened faster than anticipated. The expectation was for a fluctuating decline, but the drop came more sharply (following the U.S. stock market). Opening a Bitcoin short position instead of a shanzhai short position is because Bitcoin has high certainty.

1. The daily level has once again touched the MA60 moving average. This is the second time; if it can't hold here, then this ascending triangle will be broken again (the last time it was MA30). If it breaks, it indicates that this upward trend has stagnated and will shift to a larger level (MA120). This means a gradual transition from a trend to fluctuations, with an increase in adjustment time, which is not a good thing.

2. We are still in the overall adjustment that started from 108353. The move from 91530 to 102724 is the second part, and we are currently in the third part. Due to the vigorous rise in the second phase, it is believed that the third part will not be as deep. It is normal for the first two red circles in the chart to stop above; if it breaks down to around 86000, then the time needed for recovery will be even longer.

Currently, we have reached a point where the shanzhai that was closed has not been re-entered. Bitcoin is dropping too sharply; take it slow, observe, and gradually accumulate. Spot trading continues to remain flat! #加密市场反弹 #加密市场回调