When Bitcoin rose after the CPI was announced last night, the highest price quickly reached around 59,700, and then chose to oscillate and retreat under the influence of the decline in the US market and US stocks. The current market is still repeatedly verifying the bottom support stage, so patience is needed.
Many people have asked this question recently about whether Bitcoin will continue to fall. I think Bitcoin has been effectively supported twice around 53,000, so the possibility of falling below this support is small. As long as the price does not fall below 53,000, the market will continue to oscillate and adjust.
At the 4-hour level, the market continues to oscillate and adjust, which is a process of exchanging time for space. The speed at which market consensus is formed is the embodiment of space. Once consensus is formed, the market may quickly reverse upward.
