Post
青梅煮币
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Why I believe that the Bitcoin market will definitely drop below 74500!
Let’s start from the beginning.
Dow Theory has a basic definition of trends: an upward trend has peaks higher than the last, and the bottoms are rising. A downward trend has peaks lower than the last, and the tops are decreasing.
As shown: since the end of November 2022, Bitcoin's weekly chart clearly shows that the bottoms are rising, and the last elevated bottom is 74508. For a bear market to be confirmed, it must at least drop below the previous bottom (i.e., 74508).
There is a high probability that this bear market will bottom out within the range of 49000 to 69000. #BTC
Let’s start from the beginning.
Dow Theory has a basic definition of trends: an upward trend has peaks higher than the last, and the bottoms are rising. A downward trend has peaks lower than the last, and the tops are decreasing.
As shown: since the end of November 2022, Bitcoin's weekly chart clearly shows that the bottoms are rising, and the last elevated bottom is 74508. For a bear market to be confirmed, it must at least drop below the previous bottom (i.e., 74508).
There is a high probability that this bear market will bottom out within the range of 49000 to 69000. #BTC
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