Will Bitcoin fall below 90,000 USD? Will altcoins fall sharply if Bitcoin falls below 90,000?
The market has fallen in the past two days. I guess many people are worried about whether there will be a big drop and whether altcoins will plummet.
If you only look at the decline in the past two days, it feels quite scary. It has fallen by 10,000 USD.
It is really because of this that many people are worried whether this is the beginning of the decline. Now it has fallen so much, how much will it fall next?
Let's look at the first question first, whether the downward force is strong:
From the market, I drew three rounds of decline waves. The first round obviously fell by a large margin and the decline volume was also large. The second round of decline waves was smaller than the first round, the volume was also smaller than the first round, and the price did not break the previous low.
The third round of decline waves was smaller than the second round, the volume was also smaller than the second round, the price did not break the low point of the second round of decline, and the rising high broke the second round.
So compared with the three rounds of decline, each wave is weaker than the other. This is from the market, and it is real.
Let's look at the second question, has the downward trend started?
What is a downward trend? That is, the highs and lows are gradually decreasing. In each round of decline, the previous low is broken, and the rebound does not break the previous high.
However, it can be clearly seen in the figure that after the stop-loss signal of the first round of decline appeared on December 20, the second and third rounds of decline did not break the low point.
This shows that it is not a downward trend now, but a volatile trend.
So just because it fell in the past two days, it is obvious that the statement that there will be a big drop next is "not understanding the market" and being led by market sentiment. It is indeed difficult to make money in the financial market, but it is not difficult to say that it is not difficult.
