This year's bull market was significantly frustrated after Powell's speech in June. Before the Fed meeting, the price of Bitcoin (BTC) formed a relatively solid support below 63,000, but the market fell sharply after the meeting. Usually, the effective break below the weekly middle track is regarded as a signal that the market is turning to a bear market. At present, the MACD indicator of the 3-day line is close to the zero axis. Once it touches, it may accelerate the decline, and it is currently opening downward, so the possibility of a V-shaped reversal is small.

At present, the price of $BTC is close to the key support level of 60,000 and is expected to fall below it. The recent decline pattern is characterized by an accelerated decline after a few days of slow decline, which is more severe than the previous 5.19 incident. In this market environment, there is almost no profit opportunity for going long and holding spot except for shorting.

It is expected that in the next few days, the price of BTC may fall to the lower track of the 3-day and 5-day lines (about 59666), and there will be a symbolic rebound to the 61000-61800 range, and then it will gradually fall to 56300, and there may be a strong rebound of thousands of points, but it may still fall below 56000 and pull back to the 52000-48888 range. At this time, the weekly MACD may return to the zero axis, and the market will face the test of trend reversal again.

From historical data, there have been only two cases of falling below the weekly middle track in the past year or so, and once it falls through, the price will usually fall further to the lower track or the middle axis position of the middle and lower track. If the lower track of the weekly line is broken, the price may fall further to the middle axis position of the middle track of the monthly line (about 48800). In the short term, the market's rebound may mainly rely on the short-term effect of the 4-hour golden cross, but overall, the market seems to be in a more obvious downward trend. #MicroStrategy增持BTC #MegadropLista #币安合约锦标赛