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The other side refused a second round of talks, directly intensifying the price-action drop in Bitcoin; Bitcoin also broke below the 74,000 level.
We emphasized earlier: whether it goes up, you avoid risk; whether it goes down, you avoid risk!
For three straight days, Bitcoin directly gave back the one-way Friday rally gains. Especially after it broke below the 76,000 level, it kept drifting lower in a steady downtrend, and now the 73,000 level below is the short-term bull-bear dividing line.
After all, in the last wave Bitcoin fell from 76,000 to 65,000. Even a 10,000-point pullback still couldn’t stop the bulls from launching a counterattack. At present, the retracement from the high is only just under 5,000 points.
Even if it continues to probe lower, there is still strong support at 70,000. At this time, this pullback can be regarded as a phase-by-phase adjustment and repair. And it’s true—because Bitcoin is currently again trading near the upper edge of its range-bound consolidation.
Although market sentiment has become somewhat negative due to risk aversion, the best approach is to watch and wait for opportunities. $BTC