Talk about the recent short-term analysis of the overall market,
I personally think that the market may present a volatile pattern in the short term!
1. It is expected that the market will maintain a volatile pattern in the short term. The current price is unlikely to reach $59,200, but it may fall back to $58,400 or $58,000 (it has already reached $57,600 yesterday).
2. It is believed that during the oscillating upward movement, the downward price may remain near the Fibonacci 1, i.e. around $55,700, or in the range of $56,000-58,000. Within this range, the Fluctuation may be around one or two hundred dollars, serving as a fault-tolerant buffer zone.
3. For a mid-term analysis, it is believed that the market is more inclined to decline in the mid-term, and it is possible to fall below $56,000, and it is very likely to fall all the way to $50,000. The market may experience a process of breaking through and then recovering. At present, unless there is a clear volume signal, the market does not show a significant sign of a sharp decline.
4. For market influencing factors this week, the release of CPI and PPI data on Thursday and Friday may cause significant fluctuations. The results are difficult to predict. It is recommended to reduce leverage as much as possible before the data is released, regardless of whether there is profit or loss at the moment. It is best to reduce leverage before that. After the data is released, further analysis can be done based on the trading volume, and there may be opportunities to grasp the medium-term market.
Personal recommendation⚠️⚠️
During market volatility, pay attention to risk management, avoid high leverage operations, and wait for clear market signals before making further decisions.
#BTC