$BTC #BTC☀ #btcupdates2024 #btcpizza

BTC daily line failed to break through the pressure level of $72,000, so it fell back recently and fell below the EMA20 daily line of $68,400, which is a very bad signal.

If the daily line fails to recover above the EMA20 daily line of $68,400 in the next two days, we expect that the market will start a larger retracement, and the target is still the two supports of $60,000 and $56,000. After my subjective judgment, I think this is a high probability.

The short-term positive news has been exhausted. Even if there are two more interest rate cuts this year, the scale is not large. In addition, the high points of each round of daily line surges are lower than the previous one. We believe that this wave of market has temporarily ended, and the big cake will maintain a trend of shock and retracement in the next few months.

In summary, I personally believe that BTC will not be able to recover the 20-day EMA of $68,400, and the short-term and weekly charts are expected to fall back.