The bullish momentum is gradually decreasing, the bullish strength is weakening, and the bearish momentum is gradually increasing;
1) The spot ETF institutions had a net outflow of 129 million dollars today, and the recent amounts in ETF trading have not been significant;
2) The FOMC meeting has concluded, and it has become a foregone conclusion that there will be no interest rate cuts in the coming months, which is bearish. Oil prices are rising, and U.S. inflation is expected to rise to 3.5%;
3) On the four-hour level, the bullish momentum has been gradually decreasing over the past 40 days, the bullish strength is weakening, and the bearish momentum is gradually increasing;
4) The fluctuation time of this daily rising channel has been 41 days. When the price falls below 65,000, this rising channel will turn into a descending flag shape, and the price will continue to plummet.
If the price is still declining now, it can be viewed as a short-term correction with wide fluctuations, and it may continue to rebound below 74,000. Once the price falls below 65,000, this expectation will be shattered.
Based on the data, momentum, and fluctuation cycle, I believe the probability of Bitcoin starting the fifth wave of decline is relatively high, and this probability and certainty will increase after falling below 65,000. Let's wait and see!
1) The spot ETF institutions had a net outflow of 129 million dollars today, and the recent amounts in ETF trading have not been significant;
2) The FOMC meeting has concluded, and it has become a foregone conclusion that there will be no interest rate cuts in the coming months, which is bearish. Oil prices are rising, and U.S. inflation is expected to rise to 3.5%;
3) On the four-hour level, the bullish momentum has been gradually decreasing over the past 40 days, the bullish strength is weakening, and the bearish momentum is gradually increasing;
4) The fluctuation time of this daily rising channel has been 41 days. When the price falls below 65,000, this rising channel will turn into a descending flag shape, and the price will continue to plummet.
If the price is still declining now, it can be viewed as a short-term correction with wide fluctuations, and it may continue to rebound below 74,000. Once the price falls below 65,000, this expectation will be shattered.
Based on the data, momentum, and fluctuation cycle, I believe the probability of Bitcoin starting the fifth wave of decline is relatively high, and this probability and certainty will increase after falling below 65,000. Let's wait and see!