In the past few days, I've heard a lot of people singing the bear market song. When the market started to rise last week, they all said the bull was here, which is typical of fence sitters. Last week, the overall trend was looking down, but I didn't expect it to drop this much. Personally, I believe that the price has already reached the bottom yesterday. The price should still rise in the future, and returning to 85 is not a big issue.

From a technical analysis perspective, on the weekly chart, after the bottom was tested on Saturday, the Bollinger Bands tested the lower band. Currently, it may be forming support above 80,000. On the four-hour MACD chart, the red line is shrinking below the zero line while the green line is increasing. If it continues to move sideways, there is hope for a golden cross to form. Bullish signals are strengthening, and a rebound is expected in the short term.

Bitcoin trading suggestion: Around 82,700, go long.

Target: 85,000, 16,073,018,161