[Bitcoin trend analysis] BTC morning analysis on January 22, where is Bitcoin plummeting by more than 10%?
trend analysis:
BTC broke the position in the early morning and declared a loss of 30,000 points. The strong support below is near the 60-day line or 26500. It is also the next long-short competition point. In the past two days, BTC has made a choice after sorting out. As investors, we should respect the market, respect and obey the market. This time BTC fell, and mainstream coins fell, breaking the original upward trend. We need to wait for BTC to stop falling and stabilize before judging the market strength. Some friends here say that the bull is gone, I think it is too early to say that 41950 may be the top of the long-term line, but whether the bull is still there still needs time to give us the answer.
Focus on:
1. In the sharp drop yesterday, Grayscale only increased its positions in BTC1087.86, BCH2145.3, and LTC56808.26.
2. Pay close attention to the strong support near 26500 below. If there is a big panic or a stampede here, it is also a good entry position for funds.
Route selection:
1. Strong route. After falling below 30000, the decline gradually slowed down, and slowly fell to above 26500, without touching 26500. This shows that the funds began to protect the market, and there will be a good rebound after the decline stabilizes.
2. The middle route, continued the downward trend to 26500 and then stopped falling, but the rebound was weak. It was necessary to repeatedly step back on the 60-day line to test the strength of the disk, mainly in sideways.
3. Weak route: the fall penetrated 26500. After hitting the bottom, there was no decent rebound, and even the rebound could not touch the 60-day line to start the next round of decline. \
Article from: www.vodvv.com