📊 #BTC.W Update
🧠We are currently experiencing a supercycle where bull and bear markets typically revert to a cycle every four years, so this decline seems quite reasonable. The candlestick chart on the right is a replica of the 2022 pattern; you can refer to it.
➡️From a structural perspective, the current rebound is not strong, so we still need to be wary of the risk of further declines. It's possible that the price will drop further after the ETF opens on Monday, reaching the support zone around 74,500 that I'm watching.
➡️Extreme support is around 69,000.
⚠️The total liquidation amount reached $2.5615 billion this time, even exceeding the previous large-scale liquidation event, thus severely damaging market confidence once again. Perhaps we need to wait until the end of this year to see any hope for a bull market.
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BTC
75,034.41
-4.32%