Currently, the biggest uncertainty regarding Bitcoin still stems from the U.S. stock market. Although there has been a short-term correction, from a weekly perspective, the correction is still insufficient. Yesterday, it shifted from rising to falling again, so the proportion of Bitcoin holdings should still be controlled, and one should not easily go ALL IN.
The daily support level for Bitcoin is around 73000. If the U.S. stock market cannot stop falling, it may collapse and drop below 70000, and could go down to below 67000.
Looking at Bitcoin's 4-hour chart, it has not yet formed a Higher Highs pattern, so it's a matter of fighting while being cautious. The maximum holding should be 30%, and stop-loss should be set if it falls below 80000.
In addition, ETFs are also a very important observation indicator. Continuous selling reveals unusual messages. Before the trend shifts to inflow, one should not easily guess the bottom.
In conclusion, the current decline in the U.S. stock market has only corrected 13%, which is still far from enough. Its future trend will directly affect Bitcoin's price, so it is best to stay out for a while and wait for market developments before taking action.
#Market analysis for reference only #Does not constitute investment advice