5.11 Bitcoin suddenly plummeted again! Will Bitcoin fall to 53,000 this time?
Bitcoin had a relatively good rebound trend the day before yesterday, but this rebound trend began to encounter resistance near 63,000. After trying to break through many times, it failed to successfully break through this upper resistance. Then, the price suddenly fell very strongly last night, and the lowest point fell to around 60,200. The current price rebounded slightly to around 60,700.
This decline was too sudden. After the decline, there was no further decline in the early morning. It may be because it is the weekend. Generally, there will be no market on weekends, and it is in this kind of market with obvious oscillation trend. But if you have to say, although the fluctuation is not large during the weekend, according to my observation, the probability of decline is higher than that of increase.
Yesterday we said that from the basic point of view of the daily line, it is a pity that the rebound failed to break through and close above the middle track of the daily Bollinger band. However, if the price could continue to rebound yesterday and come above the middle track of the daily Bollinger band, it would still be able to continue the upward trend, but it did fall suddenly.
This turned into a continued decline after the backtest. The daily line also closed with an external large Yin line yesterday, which is a very strong bearish Yin line. It seems that this trend has caused a greater downward trend. If this situation continues to develop, the price will probably continue to fall to the lower track of the Bollinger band. Now it seems that this position is around 58600.
And it is currently found that the daily level macd has just formed a dead cross trend. If the price falls to the lower track of the daily level Bollinger band, then this dead cross trend will be completely opened. The fast and slow lines of the daily level macd form a dead cross trend below the zero axis. This decline should be very terrifying!
As shown in the figure, the price is now showing a downward trend, and combined with the indicator price may fall further, so if we continue to deduce, the price is likely to fall to the key position of the previous low point, which is around 53,000.
