On the first trading day of this week, BTC price pressure is obviously not small. Although it has temporarily stabilized at the weekly support position in the short term, it is obvious that it has not effectively stopped the decline, and the support is still under pressure.
If the price continues to fall below, the downward pressure will increase. If the price falls below the weekly upper track, the short-term downward pressure will be greater.
However, the overall operation is still in the daily upper track range. It is not a big problem for the time being if it does not break the daily support of 62,400.
Last week, the price broke through the daily high of 65,000 and touched 66,500 and fell back. I personally think that if it does not break the daily upper track, it is still possible to continue to rise. After all, in my expectation, the 68,000 position has not been touched to release a lot of selling pressure.
The current price decline is caused by many factors. The Nikkei fell during the day. The US stock market has not opened this week. The strength of A shares may also cause a small amount of capital outflow, so the short-term decline is still normal.
Whether the price stabilizes still depends on the opening of the US stock market tonight and the subsequent trend of the US stock market this week. The trend of the US stock market this week may continue the trend of first decline and then rise.
If the important employment data released this week does not lead to a recession, the US stock market will inevitably make another effort
