The price of BTC has increased in shock amplitude, and the price has fallen after rising yesterday. This market continues today. The current decline may continue to expand to around $50,000. Analysts believe that the pace of washing is accelerating. At the same time, the increase in short-term transactions by long-term investors has aggravated the price fluctuations of BTC to a certain extent.
On the daily K-line, after BTC easily fell below the 60-day moving average, it continued to move toward the 60-day moving average corresponding to $48,080. At the same time, $47,959 corresponding to Fibonacci 23.6% is also an important support line. The two important support lines are at similar points and are close to the current BTC price of $52,000. It is expected that the possibility of a correction in place is high.
Regarding mainstream cryptocurrencies, most currencies have failed to maintain their price strength, and the expected time for adjustment has increased. The NFT concept coin THETA dropped from a high level, UNI had a good output and fell sharply, DOT had a strong 26% retracement, and ETH linked BTC fell.
In terms of trend judgment, BTC currently continues the third large-scale adjustment trend during the year, but the BTC adjustment is expected to be strong, and the rebound still needs to wait patiently for BTC to give a buy signal on the price.
DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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