BTC challenged 63800 and then made a false breakthrough. The large level returned to the downward trend as last time. The weekly and monthly lines trended downward. The daily line returned to the downward trend after the false breakthrough of the last trend line.

The long-short ratio also reached 4:2. There was little liquidity left below the liquidation chart. The liquidation intensity was 1:10. The main reason for this round was the selling pressure caused by the superposition of Germany, the United States, Kuanggong, and Mentougou. Germany had 40,000, Kuanggong had 50,000, and Mentougou had 140,000, measured in Bitcoin.

In theory, the S&P and Nasdaq rose, and the US dollar The decline of the index should be able to drive the rise of the cryptocurrency market, indicating that this round of decline is intentional. Institutions and dealers want to absorb funds in advance. The premium of BTC is too high, and the interest rate cut node is approaching, so they will pick up low-priced chips after the price drops to a certain level.

The pressure level during the day can refer to around 58,000. At present, the volume continues to decline, and the strength is still very weak. During the decline, if you pay attention to the continued trend after the volume K-line entry, the entry position of long orders is recommended to be below 56,000, and the medium-term support is 53,000.

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