Is there still hope for the bleeding crypto market? Can we still see 80,000 Bitcoin in this bull market?
BTC has reached the last chip support level in the entire wide range of fluctuations!
The battle to defend 63,000 has officially begun! It's time for the bulls to save themselves!
Fight back, then after the current price is supported, there will be a rebound of 67,700;
If you lie flat and admit defeat, then a larger space for decline will be opened, and 51,000, 48,000 and even 43,000 will become potential targets;
There is also good news. The long liquidity gathered at 63,000 has been fully liquidated, and the downward momentum is not as strong as before;
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The bad news is that the funding rate can still remain in a neutral state at such a panic moment. There are only two explanations for this situation:
The shorts did not add much positions to the car, and now they are also patting their thighs, or the shorts are on the car, and the bulls are still holding on.
However, the descending wedge still exists, which may be the only hope for bulls;
When expectations decline, a large amount of funds will inevitably leave the market, resulting in a decline in purchasing power. In fact, we should think about it. If there is no spot ETF, BTC is likely to be around $30,000 now. Then it is normal for the current liquidity to correspond to around $30,000.
