Analysis of Bitcoin market:

I don't like to use the support line anymore. Friends who have been paying attention should find that the golden support of 61,200 has been extended from last week to now, especially at present, it has indeed been supported, but the sad thing is that the support is no different from paper in the decline. Although there is a rebound, it is also a slow rebound after an effective break. Its support strength, rebound strength and speed are all lower than my personal expectations, so the effectiveness of this support is also relatively low.

I didn't want to talk about the support below, so as not to scare everyone, but from a technical point of view, the only effective support below is the weekly large-scale support near 56,000. Of course, although this support is far away from the current price, it may not be directly reached in the short term. Under the premise of no major negative news, there is no need to worry about the so-called short-term waterfall. The 60,000 integer mark support below should stimulate certain buy orders, and it should consolidate.

The upper rebound resistance has moved down, and the monthly resistance and daily resistance are parallel, currently around 64,500, which brings greater pressure to the short-term price breakthrough and rebound of Bitcoin later.
The only good news on the technical side is that the RSI relative strength index has fallen below 30, which theoretically triggers an oversold rebound. However, this is only a technical theory. Whether it can rebound and whether the rebound strength is favorable still depends on market sentiment.

In the short term, everyone should pay attention to the risk of support breaking. We will immediately look at changes in market data and funds.
#大盘走势