$BTC Two major resistance levels: 40600 and 42700, excellent points for shorting.
Unless the price rises above 42200, there is no reason to go long. Technically speaking, Bitcoin has entered a downtrend, which is true. There is no technical reason to suggest growth and many are trying to find a support level and go long from it, but this is already a contrarian trade.
There is strong support at 39,000 points, 37,000 points and 36,000 points, but there is a high probability that it is just a short-term rebound in the downward trend, with a rebound of 5-6% or even lower. The trend is wave-like, and every rebound will trap a group of people!
In the past month, a large number of people have entered the ETF market, and the index has been extremely greedy.
Grayscale sold off heavily, and the BTC mining stock BAO fell by 60%. It was not a correction, but a plunge.
From a fundamental point of view, the biggest benefits have already been released. What other benefits can we expect?
