$BTC has fallen below the important support line, and it is likely to continue to pull back.

$BTC has fallen below the important short-term support line of MA30, which means that the third sub-wave of the fifth wave of Bitcoin has ended on December 17, and it is currently in the fourth sub-wave adjustment wave stage.

At present, the market has given many negative signals. The capital situation is deteriorating, ETFs are being distributed on a large scale, the leverage ratio of Bitcoin is too high, and the US buying is sluggish, so Bitcoin is likely not to fall to the right place.

The adjustment wave is usually a three-wave structure of A-B-C. At present, the A wave of the fourth sub-wave has been completed or is close to completion. After the completion of A wave, it will rebound by B wave, which may rebound to the position of MA30. After the rebound of B wave, it will fall by C wave.

The end point of C wave may be the support level 1:90800 and the support level 2:85000.

Of course, if the leverage ratio is still too high when it falls to these two positions, the extreme situation of falling below 80,000 cannot be ruled out, but the probability is relatively low.