Coin World Website reported:
Bitcoin returned to around the 30-day moving average of 65,000 overnight, and then began a major rebound, pulling back above 67,000 this morning. The day before yesterday, I told you that the resistance at 70,000 was too strong and there would be a rebound after the pullback; yesterday I told you that the upward trend had not changed; last night I told you that 65,000 would be a good support level. Bitcoin has been oscillating and adjusting, recovering all the losses from yesterday in just six hours. Currently, the price is above 67,000. Although the price has not changed, many people’s accounts have shrunk. Unless there are surprises, 65,200 will be the low point in these few days.
Currently, the MACD indicator is approaching a bearish crossover, and the bears should be cautious of a false bearish crossover leading to new highs to trigger stop losses. The bulls should be careful of a divergence in indicators after new highs, followed by a much stronger adjustment than this one. Follow the trend, go against the small trend, manage expectations well, and do risk prevention and control.
From the perspective of this wave of decline, a retracement is inevitable. Pay attention to the funds, as they are the key. The main reason is that this macro cycle is raising interest rates while still easing, which has lengthened the macro cycle time. Originally, at this point, the recession should have already occurred (according to the four-year cycle, it would be like October 2020, when the recession caused by the 312 had already ended).
The result is that it hasn’t started yet, and it is even unknown whether this recession will start. Of course, the real start of the recession will be next year, so it has been postponed by one year according to the four-year timeline. Therefore, although there are ETFs, there is no expansion of the balance sheet in the big picture, so there is not enough money, and there is no crazy bull market. Shanzhai naturally will not thrive, except for the crazy MEME.
“Red people have many controversies.” Tesla CEO and X platform boss Elon Musk recently announced that he will randomly select one Pennsylvania voter who signed the America PAC petition each day and give them a $1 million reward to encourage more voters to support Trump.
However, this move has already violated federal laws, which state that “paying, proposing to pay, or accepting payment for registering to vote or voting” is a crime, and the maximum penalty is five years’ imprisonment. CNN has reached out to Musk, several email addresses listed on the Super PAC website, and the organization’s financial director for comment, but has not received a response. The Department of Justice has also declined to comment at this time.
