BTC is going to crash? One article teaches you to see the current situation clearly

Tesla CEO Musk announced yesterday: "Tesla accepts bitcoin purchases." This news instantly changed the downward trend of BTC, from the selection situation of 54,000 to the offensive form of 57,000. When everyone thought that the market was starting to reverse and go up, then Evans posted a normal post, but sent a waterfall last night, including today, the decline of BTC was hard to stop.

Many people will think that this is a change in the news, but the market has not risen for a long time, and the backlog of high-level lock-ups has caused users who lost money in the early stage to continuously sell their chips, so there will inevitably be a trend in the future. Even if there is no such news, the BTC market will go down The probability of breakdown is also very high.

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(BTC daily chart)

We can clearly see from the daily chart of BTC that BTC is above 20,000 US dollars, forming multiple trend line supports, and has never fallen below. In the past two days, the market still stood firm at this trend line and rebounded slightly. However, just today, the market directly broke through this bull market support line, and it was unstoppable in one go.

If you interpret it from a technical perspective, then the market will likely fluctuate or go down for a long time, and there are too many locked-in positions above, including some institutions or listed companies that have built positions at high positions, such as Meitu, MicroStrategy, etc. Open a position above $50,000. Most of what we know so far is that the panic fleeing of retail investors led to the decline in the market. If the main players leave, the market will become even more out of control. This is what we are concerned about.

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(Grayscale Trust - BTC holdings)

It is not enough to say that BTC crashed, but from many perspectives, the risk of short-term BTC is very huge. As the price hit a high and fell back yesterday, and set a new low in the near future, the short-term damage has occurred. If the price cannot recover the 54,000-dollar line today, the price may test the 50,000 mark.

As the remaining time of this month is not much, the closing line is getting closer and closer, and the long and short positions have entered a white-hot stage, vying for an important watershed line. Due to the failure of the rebound again, it shows that the short-term risk has not been lifted. Therefore, short-term operations need to be cautious. Below is the support near 50,000 for the time being, and if it falls below, we will see the daily line-level MA60 moving average, which is the support near 48,500. It is necessary to pull out a large-scale sun in 4 hours, or the market will stand on the 1-hour MA30 and MA60 moving averages again, then the market may continue to rise.

If you can't see the current situation clearly, or you are not good at short contracts, you can also calm down and take a rest, wait for the market to come out with a clear direction, and then make a sure decision.