This round of decline has been going on for nearly 30 days, which is extremely painful.
It has been fluctuating between 60,000 and 65,000 US dollars, breaking through from time to time, and then breaking the previous low.
There is no rules or logic, so most people have lost their patience.
These are all things that everyone needs to experience. Whether it is a bull market or a bear market, the volatile market basically occupies about 70% of the time.
Because the trend occurs in stages and will not end all at once, otherwise everyone will make a lot of money, how can this be possible?
The recent market situation should still be based on the market, whether it is rising or falling. It is a fall, which is inseparable from the strength of the K-line and the volume
Below is the 5-day trend chart of Bitcoin. The oscillation range in the figure also includes all the K-lines
There are 2 very obvious downward trends
The first wave was very rapid and lasted for a short time. After the sharp drop, it was quickly pulled up by the bulls
The second wave of decline was obviously different. It lasted twice as long as the first wave, and the downward space was also larger
The key is that the second wave also broke the important support level of 60,000 US dollars and reached 56,000 US dollars
From the above K-line trend, the shorts are stronger
But it is worth The focus of attention is also the second wave of breaking below 60,000 US dollars. The subsequent market did not continue to fall and closed with a positive line.
This very strong downward trend was intercepted, and the K line also took a piercing pattern.
However, the long volume is not very strong, which is a pity, but it can also show that the position of 60,000 US dollars is supported.
There is strong pressure from above and support from below. The long-short game is still going on. At present, both sides have not been able to have an absolute advantage.
The follow-up is still dominated by shocks, and we must continue to be patient and wait for the final winner to appear.
However, in terms of the overall environment: like Bitcoin ETF and halving, or Ethereum's Cancun upgrade, are all good news for the cryptocurrency industry.
With the support of fundamentals, funds, and news, it may add a few points to the cryptocurrency industry.
The final step depends on how the technical side goes. Friends who have time should watch the market and pay attention to the large-scale trend.
Whether it rises or falls, it will be clear around mid-May.
I am May. If you are confused and don't know what coin to buy and can't understand the market, click on the avatar to find May to operate together #BTC $ETH