Bitcoin weekly head and shoulder top is established, then pleaseLast month, I published an article suggesting the weekly line here, head and shoulder trends.At the time, the old readers knew that I was a very cautious person, and that I was always in awe of this highly speculative market.
the market has gone through the worst form, perhaps many people still can not understand, why I am always cautious in words and actions.
Because this market is highly speculative, many investors, and do not have too much experience, also have not experienced the baptism of many bear markets, in the face of the current trend, often mentality collapse.Think about those friends who believe in value investing and $100,000.Maybe Bitcoin can really reach 100,000, or even a million dollars one day, but how many people can survive until that moment?
Most people, in a bear market, lose confidence and are eventually swallowed up by the market.Because the darkness may not be the most terrible thing, but you are in the dark, still do not know when this state ends is the most terrible.
Back to the chart, we see the weekly uptrend line sold out and the head and shoulder chart established.However, the weekly line level is very large, and the running time is also very long, so the head and shoulder top caused how much damage, it is hard to say.
But it doesn't matter, as old readers know, I like to use the macd + ma strategy, some people say this macd is too dull.
Now you see, there's nothing wrong with being slow. Too aggressive operation, we will be caught in a bear markett. Seemingly simple indicators are often more useful.
Where will the weekly decline go?We can look at a few supports below,
The first is the ma144-week line, which is currently around $26,000,
The second is several value bands, 31,000,21,000,14,000,
The third was the June 2021 low, at approximately $28,800.
Let's first look at the front low support, where there is also the possibility of a box.
If you don't respect the market, the market won't love you.In the past month, most of the fake coins have been halved.Such a trend, no value at all, so this highly speculative market, many people want to live, must have superhuman ability.When you want to make some interest, people are thinking about your principal.A zero-sum game market, if you make a little mistake, you will lose all over it.
