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The small downward structure failed to play out.
$BTC #比特币现货交易量新低
From the 1-hour chart, this recent rally, breaking the secondary high, can be considered as the destruction of the downward structure, initiating a small upward structure, following the line 2, but the downward structure cannot support the previous upward trend, so it remains bearish.
If we view the decline from 79405 to 74937 as this wave, this rally retraced to the Fibonacci 0.236 level, which is the limit. If it declines again to form a new three-wave push, then the depth of the decline could be significant.