Bitcoin has continued to decline after breaking below the 20-day moving average, currently just 1000 points away from support level 1. Once it breaks below support level 1, it will signal the complete end of this wave of increase since early April. This wave of increase

Once it breaks below support level 1, it will signal the complete end of this wave of increase since early April.

In this case, since the peak of this wave of increase is very close to the peak in January, the probability of Bitcoin's fifth wave being a double top is significantly higher than that of a terminating inclined triangle. This could very likely mean that the bull market is over.

Therefore, it is crucial to closely monitor whether support level 1 will be broken in the next few days.