9.0 is a watershed. If it cannot break through, it will fall to around 7.7. If it breaks through, it will rise to 10.7. Currently, the outlook is still bearish.
In June 2017, Ethereum plummeted to $10 and then slowly recovered. Last night's crash is no different from that year, the only difference is that the current market is more mature. So, if you hold spot assets, there is no need to worry, the market will recover.
Unfortunately, Bitcoin has failed to continue its breakthrough. If the price cannot return to 11.4, it will drop to around 10.2, or even lower. The 50EMA will be the last support line for the bull market, but I believe it will hold. The bull market is not over yet, but it is expected that funds will flow back into Bitcoin, and Bitcoin's market cap ratio will increase; the altcoin season is far from here.
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Bullish
Bitcoin's basic correction is complete, enter at lows, target 130,000 to 140,000.
Bitcoin has one last wave of rising market: If it finds support at 11.2, it will rise to around 14; otherwise, it will drop to 10.2 before starting to rise. 13~14 will be a very good selling point.
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Unfortunately, Bitcoin has fallen below the support line, and if it cannot return to 11.6, it will turn bearish.
Don't panic, as long as the price stays above 11.6, it is bullish.
假装是交易员
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Bullish
The price of Bitcoin showed weakness after surging to 12.4, retracing to 11.8. The outlook remains bullish, continuing to set new highs at 13.2, so don't exit easily.
The price of Bitcoin showed weakness after surging to 12.4, retracing to 11.8. The outlook remains bullish, continuing to set new highs at 13.2, so don't exit easily.
BTC is currently at a key support line: If it holds the support line, it will continue to rise and set new highs; if it fails to hold, it will drop to 10.6.
The rise of Bitcoin has not ended and will continue to reach new highs. However, the market is expected to be very unstable, and traders should avoid excessive leverage.