Let's talk about the market:

Bitcoin fell below 58K, which means that it took more than three months to complete the exchange of chips in the top area. Most retail investors held chips at 60K-70K, and of course they were trapped.

I thought it would stop falling and stabilize at 61500, but it has not broken through the 120-day moving average. Instead, a bearish pattern appeared at the rebound position, which is basically the same as the trend in November 21. History is really repeating itself.

Bitcoin accelerated its decline again today. Touching 52K will be a short-term low, but this position is a decline relay, not the bottom of this wave of decline; this does not affect the short-term operation at this position to bet on a rebound.

The strong rebound at the mid-term level, Jiu Ge believes, will appear around 45K. At this position, there will be a good strengthening trend. Large funds should enter the market later, not at the current node.

It is expected that this wave of adjustment will end at the end of July.