#加密市场反弹 Is it currently bullish or bearish?
Currently focusing on BTC's trend
1 From a technical perspective, the high hanging candle on January 20th is a strong reversal signal, and subsequently, BTC has started to weaken. The three consecutive declines over the past three days indicate that the bears are still in a strong phase. If the price breaks below the recent low (point on the 13th, it is very likely to trigger a technical sell-off)
2 MA has formed a death cross
3 RSI is neutral to weak
4 Trump is in power, and positive news has been fully realized
From my view, the entire market is in a high probability downtrend. Not trading or shorting seems to be a more prudent strategy. (P1)
After looking at the overall market, let's talk about pnut. Since the beginning of the year, I have been out of the market. Pnut has gone from a popular coin to a stagnant state since then, relying on squirrels to get through a good year. Today, let’s take another look at the data; there is still no liquidity from the main players. Don’t think that just because it has dropped so much, it’s time to catch the falling knife. Without support from major players, combined with the overall market's downtrend, it is highly likely to continue to drop along with the overall market.
From the objective data, it can be analyzed that this coin is currently in a state of gradual decline. It’s not too late to buy the dip when there are signs of movement from major players!
