The 5000U correction was the second since July 2021, when bitcoin hit 51000U. The first correction was also 5000U on September 7. These two big falls, let bitcoin weekly showing a weak trend.
For the current market, the fundamentals of the currency more bad news than good, especially the blockbuster regulatory information posted by the bank of China, make COINS COINS are Ann and fire the mainland repel and user’s announcement, the market panic once greed index fell to 26, the second day of the market, though there is a small rise does not ease market pessimism, If the market does not have enough positive information, then slowly falling or volatile prices will become the norm. But may’s 20,000-point bear market is not in sight. High inflation in the United States has made bitcoin an investment of choice for many people, and if bitcoin continues to fall, it will be a good time to get in.
BFX contract exchange special analysts believe that no matter how much negative macro news, the price is the most intuitive market. After the fall on September 20, the price of bitcoin continued to fluctuate between 41900-43600. Then we need to pay attention to whether the volatility of bitcoin in this range can be maintained for 1-2 weeks. If it is maintained, then the later rising market can be expected. If it breaks below 41000 times and goes down to 38000, it will be very dangerous and that will be the air force market. In this case, you can go short as soon as the price goes back to 41000U.
Of course, there is a more obvious signal that the price effectively fell below 38000 and returned to the shock below 40000U. If this is the case, then 40000U is the position of the top of the mountain, and it will be a long time to reach 40000U. But that is unlikely to happen unless there is a particularly bearish policy, because stubbornly high inflation in the U.S. has made bitcoin a popular currency for many, and if it continues to fall it will attract new investors and create a new range.
Now no institution and analysis can predict the currency under a vertex position, so this is the safest approach in the market, in waiting for the oscillation of the 41000-43000 range, is given priority to with empty, BFX exchange contract contributing analyst warned that after any big fluctuation will you enough attention and caution, do not blind self-confidence.
Reprint indicated source：Spark Trader Limited information