Here to help everyone restore their faith, $BTC dropping like this isn’t entirely unexpected, but it’s still a bit surprising. Currently, the lowest point is around 80,700. As shown in the BTC daily chart, it has just dropped to the lower edge of the rainbow channel, which also coincides with the 1.618 Fibonacci extension level. This kind of major drop reaching such a key point, I believe this position is strong support, and I expect a rebound to around 99,700.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Here to help everyone restore their faith, $BTC dropping like this isn’t entirely unexpected, but it’s still a bit surprising. Currently, the lowest point is around 80,700. As shown in the BTC daily chart, it has just dropped to the lower edge of the rainbow channel, which also coincides with the 1.618 Fibonacci extension level. This kind of major drop reaching such a key point, I believe this position is strong support, and I expect a rebound to around 99,700.