#加密市场小幅下跌

The sharp decline continues, but today is expected to rebound first and fill the gap around 72400, then start to fall again.
BTC started falling from 73700 yesterday, eventually dropping to support around 70000 and then rebounding. It declined over 3000 points in total, and today it left a parallel bottom near 70000 to rebound. Everyone must know that parallel bottoms and tops are used for breakouts and breakdowns, and are often tactics used by the main force to trap traders. Therefore, it is highly likely that the price will break below the support level around 70000 later.
So, how should we interpret today’s movement? First, we need to clarify that 73700 is basically the top of this rebound. I think there’s no need to consider 76000 or 78000; it won’t go higher because the upward structure on the 1-hour and 4-hour charts has already been broken, creating a lower low. This is a typical downward trend pattern. However, it has not yet formed a lower high, and I believe today might see a lower high. Today may first fill the daily-level gap around 72400, and after filling it, continue to decline, breaking below the parallel bottom near 70000 to form a downtrend. That’s roughly how it should go.
The above is just my personal opinion and should not be considered investment advice.