Currently, the weekly level has not fully broken below MA200. A decent small rebound is expected between 56-54, with the rebound target tentatively set at the previous range of 67-69.

The market still needs one final surge to achieve the last shakeout. On November 7, 2022, the weekly level dropped by 20%, a capitulation drop caused by panic selling from miners, long-term holders, and institutions. This round is expected to see the same. Based on all current data, a US stock market crash is highly likely.

When the price retests the weekly MA200, retail investors will be extremely bullish. From Figure 1, we can see that after retesting this support, the price continued to drop by 32%, and the bottom price will land near 42.

In summary, what I want to express is that we haven't bottomed out yet. The capital divergence around the MA200 line will be very high, which is what I mentioned a few days ago. The price will fluctuate very violently in the coming days, making it a nightmare for short-term traders. Traditional support and resistance levels will no longer be reliable at this time, and the market will be dominated by large capital in terms of upward and downward divergence.

Patience, wait for the wind to come～～$BTC ‌