#btc
Bitcoin, on a weekly chart, the MACD death cross continues to expand, and bearish forces are continuing to unleash. The current market situation is critical, and we need to pay attention to two points.
1. Bitcoin is consolidating sideways within a high-level range and is currently at the bottom. If it breaks directly, the market will continue to fall, or even plummet.
2. After all, it hasn't broken below yet. Without a break, it can only be treated as a box. If there is support at the bottom of the box, there is a chance of a rebound. Continued divergence from the top on the weekly chart also suggests the possibility of frequent upward momentum.
Neither the first nor the second scenario can change the fact that the major cyclical uptrend is about to end. At the bottom of a major cycle, the market will frequently test downwards, forming lower lows. Conversely, at the top of a major cycle, the market will frequently test upwards, forming higher highs.
The two completely different situations in the current position will bring different results to bulls and bears, and will also bring different results to friends who are short and those who hold positions. Some are happy and some are sad, so the most important thing is to hold the profits in your hands. Whoever keeps the profits is the real winner.
