From the daily chart perspective, Bitcoin has already broken through the downward trend line, which Thirteen has mentioned multiple times in previous articles.
An upward trend line is starting to form, but this trend has not yet emerged; it needs to linger at this position.
After all, the current elections and the risks in traditional financial markets have made many crypto investors very hesitant; the capital inflows are not decisive, and most are watching from the sidelines.
From the perspective of trading volume, it is in a state of contraction. Usually, a decrease in volume during a downturn is seen as a false signal. Is it really a false signal?
Thirteen believes that this possibility is quite significant.
Bitcoin has now dropped 3000 points from its peak of 69000 to around 0.618, which is the current position of 66200.
At this position, the air force's phased target has been achieved, and usually, there will be fluctuations to observe the attitudes of the bulls. If the bulls intervene decisively, the air force will give up; otherwise, the air force will strike while the iron is hot.
Unfortunately, the current situation happens to be the latter; after the fluctuations at this position, there is a high probability that the market will continue to drop to 0.5, which is 64600.
The above analysis is just based on Thirteen's analysis of trading volume; the market has emerged, not predicted.
If BlackRock receives good news at this time and starts to buy or sell decisively, then the market could change dramatically at any moment.
Therefore, during the investment process, everyone should try to follow Thirteen's method, manage positions well, control risks, and embrace the mainstream, so that one can navigate freely.
2,
Now, there are many discordant voices in the market.
It is said that the market might even drop to the 37000 range, which is honestly quite absurd; of course, this possibility does exist.
But these attention-seeking predictions are often similar to those who predict earthquakes every day; as long as they get it right once, they can brag about it for a lifetime.
From the exchange balances, the stock of Bitcoin is declining, which means that investors are transferring Bitcoin from exchanges to personal wallets for long-term holding.
They are firmly bullish.
The overall market sentiment is also bullish; the likelihood of a sharp market drop in the short term is very low.
At this point, a sharp drop really means that new investors are getting on board.
In the price range of 69000, there are 300,000 active addresses, and their average holding price is 68500.
In other words, once the market exceeds this price, regardless of how optimistic the market is, there will be selling pressure; everyone has made a profit, and any reason can lead to selling.
Now that the price has reached around 66000, going down to 64600 is estimated to be the limit; the current market has emerged, and when it reaches the price range of 64000, Thirteen will also remind everyone in the article.
3,
Thirteen does not really recommend everyone to pay too much attention to short-term market conditions.
If I weren’t a crypto blogger and just invested, I probably wouldn’t even look at the market. Before I write every day, I spend two hours reviewing data, studying information, taking notes, and summarizing key points to present to everyone through articles.
This is Thirteen's job; I have to do this.
But you are different; you don’t need to pay too much attention to the crypto market because your positions are basically already set.
The seeds have already been sown; we just need to wait for the autumn harvest.
The autumn harvest is really very close to us; you must hold on to the chips in your hands and never let them go.
Thirteen Circle has always adhered to a low-risk investment strategy, focusing our main positions on mainstream coins like Bitcoin and Ethereum according to Thirteen's strategy.
Since March, facing the incessant market fluctuations, we have managed to endure due to this investment strategy.
If earlier investors heavily invested in altcoins, they are indeed in a tough spot now, still recovering, but there’s no need to worry excessively; it's just a matter of time.
Moreover, in the ups and downs of the past six months, we have continuously bottomed out Bitcoin at low prices and sold at high prices, which has actually lowered our holding costs.
Now, as long as friends avoid reckless actions, they have already turned things around.
Since March, almost no one has escaped losses; this is the major trend, and no one can remain unaffected.
Look at how many capable individuals there are in the whole circle; they once shone brightly, and during the worst times, they were on the brink of bankruptcy.
Everyone should maintain a positive mindset; Thirteen Circle is a long-term spot investment. Don't get too hung up on gains and losses in one place.
4,
Let me briefly explain what happened in Thirteen Circle today.
This is quite normal in the crypto world. As a blogger, all kinds of people come in; I have encountered every despicable tactic imaginable. This can only be considered minor skirmishes.
Since the establishment of Thirteen Circle, we have consistently maintained a style of producing content, low-risk investment, and no tricks.
Everything is within the legal framework, basically like a seamless egg.
This time, while I was away, someone deliberately stirred up trouble, and others joined in, using despicable tactics but feeling no shame, instead taking pride.
Of course, Thirteen can understand; this is human nature.
However, the journey is long; we will part ways here. People act, and heaven watches; retribution may come at any time.
I think this is a good thing; it clears out the pests lurking in the circle and cleans up the trash. Our environment will become better.
Since I became a blogger, I can honestly say that I have never deceived any fan; everyone has been treated sincerely.
Living in this world, one seeks to be open and honest; this way, I can sleep very soundly.
Using deceitful means to take advantage of others' misfortunes, you might even fear that ghosts will knock at your door at midnight.
Perhaps the next moment, there will be a knock at the door.
