Has the market reached the bottom of this round of adjustment?

Let me first say the conclusion. It is estimated that it has not reached the bottom. Two days ago, Bitcoin returned to above 6.5w and stood back on MA20, but it did not stand firm and fell again.

Many people began to say that this round of 5.6w is the bottom of this round of correction, but there is still an obvious signal that it is still in the downward channel. The last time Bitcoin pulled up above 6.5w, it did not break through the previous high of more than 6.7w and fell again.

The signal of the opening of the upward trend is that each rise breaks through the previous high, and the signal of the downward trend is that each rise cannot break through the previous high, and the low point is setting a new low, so next, pay attention to whether there is a break near 5.6w.

It is estimated that this round of psychological price is between 5.2w and 5.5w!