After Bitcoin fell to $65,250, it "turned V and broke through 67,000." Is it a healthy correction or a Dead Cat Bounce?

This article is machine translated
Show original
Bitcoin fluctuated around the $67,000 level for a long time yesterday, until it officially fell below it late at night. At 02:15 this (24th) morning, it hit a low of $65,251, the lowest point in the past week. However, Bitcoin quickly rebounded and has now broken through $67,000 again. The decline has narrowed to less than 0.5% before the deadline. But is this just the B wave in the third wave of the decline, or has the healthy correction already ended and will it continue to rise? Time will tell. However, looking at the current situation, if the price continues to surge, $68,200 will be the next relatively strong resistance level. The trend of Ethereum is similar to that of Bitcoin, but even weaker. It hit a low of $2,441 this morning, but has rebounded to above $2,500, although the decline in the past 24 hours is still over 3%. In the past 24 hours, the total liquidation amount across the crypto market exceeded $277 million, with over 92,000 people being liquidated. On the other hand, although the open interest of Bitcoin contracts on exchanges has fallen back from its new high of $40 billion, it has risen again to $39.1 billion today, breaking the downward trend of the past few days, indicating that more violent market fluctuations may occur at any time.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
3
Add to Favorites
1
Comments