BTC Bitcoin released a large number of sell orders today, causing the price to fall rapidly to the key support level of 57,800, but then rebounded quickly.
Does this rebound mark the end of the downward trend, or does it indicate that a bigger plunge is coming?
My personal opinion is that Bitcoin's fall below $60,000 this time is not temporary, but may remain below $60,000 for a long time for consolidation and shock. The market will not rebound as quickly as before. Currently, Bitcoin has fallen below 60,000 and is around 58,000, and there has been no rapid rebound, but it has stabilized and fluctuated around 58,000.
Although there may be some rebounds in the early stages of the decline, and it may even break through $60,000, it will not stabilize above 60,000, but will fluctuate and rebound between 58,000 and 61,000, and then fall again.
Important events that need to be closely watched in the future are:
At 20:30 on July 5 (US time), the unemployment rate and large non-agricultural employment data for June will be announced.
These events will accelerate the evolution of subsequent market conditions. Before the market really forms a trend, all directional predictions are just guesses.
