Yesterday, a negative line brought the market into an extremely fearful mood. Will this wave of decline break the previous low again?
The key to the subsequent trend of the market is to look at the K-line, that is, to analyze it through the technical aspect
The results obtained, combined with the funds in your hands, can make the best choice
The above BTC market trend chart is 12 hours, and the following points can be drawn from the chart:
1. The current Bitcoin fluctuates between US$58,000 and US$62,000. Although a large negative line was closed yesterday, it has not yet fallen below the key support level
2. The decline on August 5 was too rapid and large. The current time period is still very close, and this wave of rebound is very fast, so the probability of another big drop will be Decrease
3. On August 8, there was a relatively strong rise, from 58,000 directly to 62,000 US dollars. The subsequent market has been fluctuating within this big positive line, which also shows that the bulls under 58,000 US dollars are very strong
So through market analysis, the current shorts are not as strong as the market imagines, at least they have to fall below 58,000 US dollars first
On the contrary, if the decline stops, the probability of subsequent rise and breaking through 62,000 US dollars is greater
