Last night, Bitcoin fell sharply to the trend line of 650. There are currently two possibilities in the short and medium term:

One is to break through and rise after forming a head and shoulders bottom pattern;

The other is to rise after forming a double bottom structure. It is more inclined to the head and shoulders bottom pattern, because the shock from 720 has lasted for 25 days, and all wave structures are in a state of adjustment, and no clear trend direction has yet appeared.

Currently, the rise after a wide range of shocks is optimistic.