okx

Market Correction Continues

时间:2024-03-21|浏览:297

欧易

欧易(OKX)

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币安

币安(Binance)

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Many people think this is a pullback in a bull market. This cannot be said wrong, but the callbacks may be large or small. I think the weak market will continue for 1 to 2 months in the future, and there is a high probability that this will not be the end of the correction.

Because BTC has experienced a 6-month rise since it started rising in mid-September last year. The overall market has gone through a complete cycle. Major copycats have generally risen, sectors have rotated, and many funds have made a lot of money. The entry of funds into the market has become very tense. To give a simple example, last week there was an additional US$1.3 billion in stablecoin issuance, of which USDT was an additional US$800 million, but BTC still fell from 73,000 to 62,000. Every time after a complete market movement, the market needs to be reshuffled to squeeze out the bubbles.

It would be unwise to cut the flesh at this location. From a technical perspective, the current position is horizontal support and the lower boundary of the descending channel, with double support. And altcoins generally fell more. Judging from the short-term market conditions of a few days, even if it falls, there is a high probability that it will be a pin. In addition, judging from historical experience, even if Bitcoin has a big decline recently, an effective rebound will often be organized during the initial first wave of decline. Because there will be a lot of funds here who will think this is just a callback in the rising process and will buy at key positions.

Of course, this is only a high probability. If a small probability situation occurs, don't stare at the rebound. If the Air Force is particularly strong, it may continue to decline. The basis for judgment is very simple. It fell below 5.9w on heavy volume and cannot be recovered.

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