Yesterday in the crypto world was truly tumultuous. No one expected Bitcoin to drop below 80,000, but astonishingly, after falling to 79,933, it has been on a steady upward trend today. This indicates that capital is secretly buying the spot at low prices!
Capital is always the most pragmatic; when there’s profit to be made, they rush in faster than anyone else. Many people feel that the crypto market has entered a bear market, but if you look at the chart below, you can see that Bitcoin's trend has formed a large 'M' shape, which is also a 'drawbridge' pattern. If the later trend continues to follow this pattern, then this low point will mark the starting point of the upward trend!
Now, let's talk about WIF. This coin has been the most perplexing for Long Ge. He set a stop-loss at 0.5, but it surprisingly dipped to 0.4285. Many people may have given up on holding it, but Long Ge believes it will still rebound to 1!