Bitcoin once again reached above $70,000, which made those who had been waiting for a big drop start to waver. Those who originally wanted to get Bitcoin at the bottom price were afraid of missing out and could only chase the rise again. Europe has already started to cut interest rates, and the next step is to wait for the SCE interest rate meeting. The interest rate cut is basically impossible to stop. Once the SEC confirms the time for the interest rate cut, it will be good for the entire financial sector.

When I started to slow down the pace of interest rate hikes last year, I shared that the overall environment will only get better and better. The main players are all foresighted and have already started to make arrangements when the pace of interest rate hikes was slowed down. However, retail investors are always waiting for the news to come out, and after the news comes out, they think that all the good news will be bad news, which is always contradictory. Therefore, they cannot keep up with the pace of the main players and can only be harvested passively.

Bitcoin is a weather vane. Even if the market begins to show signs of divergence, the trend of Bitcoin still determines the general direction.

Bitcoin has risen from 15487 to over 70,000, which requires huge funds to pull it up. Since the main force has spent a lot of money to pull it up, it is impossible for retail investors to have the opportunity to pick up cheap chips. They will only try every means to let retail investors chase high prices, which is in the interests of the main force. Trading is not that complicated. As long as you can understand the trend of the market, you can avoid most traps. It was originally a simple thing, but you have to make it so complicated. You have to read all kinds of news every day, make yourself suspicious, and finally don’t get a good result.
The market is simple; human hearts are complicated.

Let’s analyze the daily market of Bitcoin today.

1. Bitcoin has come to the pressure level of the dense trading area formed by its previous historical high five times, but has not broken through, indicating that the pressure from above is very high.

2. It has been rising since $56,000, with both high and low points rising. The volume has increased when it rises and decreased when it pulls back, indicating that the bulls are very strong.

3. This time it fell back to the trend line support, which is also the BOLL middle track position, and did not fall below it, indicating that the support below is very strong.

4. Yesterday, a pregnancy line pattern appeared near the pressure level, and the market entered a period of volatility. This volatility is different from the previous ones. During the bull market, the pressure level was repeatedly rushed up but was not broken through. It was not a sign of a decline, but a sign of digesting the pressure from above. At the same time, it is also accumulating strength and preparing for a breakthrough.

From the above points, we can see that the Bitcoin daily bulls are stronger than the bears. Although there is pressure from above, the pressure during the bull market is used to break through. The current shock is in preparation for the next breakthrough.

A large amount of funds have flowed into Bitcoin in recent days, but the market has not continued to rise. If everyone can figure out this problem, then they will know what to do next.

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