Technical analysis - weekend shocks and copycats recover lost ground
Does the successful halving of Bitcoin mean the beginning of another round of bull market? Bitcoin's historical halvings were in 2012, 2016 and 2020, and the price of Bitcoin rose by 5%, 13% and 37% respectively 30 days before the halving events. In addition, the halving event also drives the growth of the number of Bitcoin addresses. Now a new round of halving has begun, and the price of Bitcoin will be slowly raised and stabilized by the market again in the following period.
Mining is the biggest "victim" of the overall Bitcoin halving. The decline of Bitcoin in this round is also affected by the continuous decline of mining companies' stocks. After the official halving, some small mining companies will be slowly liquidated, and a new round of industry integration and bankruptcy will begin. Bitcoin may continue to fluctuate in the near future, and then slowly start a round of gains after the reshuffle.
Daily level market
- The daily level intraday decline trend is temporarily strong and oscillating. The market will only strengthen after breaking through the top near 65,300. The middle track supports near 63,000 and the bottom supports near 59,500.
4-hour level market
-4-hour level out of the falling channel, bottom support near 63000, top pressure near 65300, 4-hour level to rise.
Intraday level analysis
----After the intraday market halved, it is in a strong repair. The bottom of the day appeared near 62500. 63300-63000 is the overall strong and weak support line. If it falls to this position, you can choose to enter the market in the short-term level. The first pressure above is near 64500, and the second pressure is near 65500. After breaking through, the logic of the increase is around 68500.
Bitcoin is in a shock repair market over the weekend, focusing on the entry of funds in the SOL ecosystem and the sustainable development of the Bitcoin ecosystem. The increase in miners' fees will inevitably drive the increase in the Bitcoin ecosystem. #大盘走势
