After the price of Bitcoin reached 70,000, it quickly pulled back.
Looking back at this round of rise, the increase was not large.
The market gradually digested the German government's selling.
The market also gradually accepted the selling pressure of the Mentougou Exchange.
When all the visible negative news was digested, the price of Bitcoin gradually climbed and finally reached 70,000.
After that, the market experienced a correction.
Is this correction a short-term consolidation, ready to rise again?
Or is it because the pressure at the resistance level is too great, and the market is ready to trade sideways at this level for a while?
Or is it that the shorts are inducing the longs, waiting for investors to enter the market due to fear of missing out, and then cutting leeks, with huge selling pressure?
I can't help but ask those friends who bought Bitcoin at 70,000, what is the scenery at the top of the mountain?
Although I have always been pessimistic about technical analysis and disagree with those who study bar charts, now open the K-line chart, an obvious M-shaped top is clearly displayed on the chart.
Are you starting to feel uneasy again, wondering where this round of correction will fall back to?
Will it fall below 60,000, or even drop to 55,500?
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