There are no failed investments, only failed operationsI. Trend analysis
🔹 overall trends:
Since the beginning of 2024, Bitcoin has experienced a clear upward trend, peaking at nearly $115,000.
The price has recently fallen below several key support levels and entered a downward trend, with prices testing support in the 80,000-85,000 range.
The short-term trend remains weak, and the market may continue to seek lower support levels.
🔹 moving average system:
The short-term moving average (red, 10th) indicating that the market is still dominated by short-term bears.
The long-term moving average (blue, 60 days) has also started to turn downward, suggesting a weakening of the medium-term trend.
Conclusion: The market is still in a downward trend, and the moving average system shows no obvious signs of stabilization.
Structural analysis (K-line morphology)
📌 head and shoulders may have been completed:
From the high level formed by 93,000 to 115,000, there is a more obvious head and shoulder structure, which is currently falling below the neckline (82,000) and accelerating the decline.
If this pattern holds, the target decline level may test the 77,000-80,000 area.
📌 M head shape:
The previous two highs (around 100,000) formed an M-head and fell below key support, remaining weak in the short term.
📌 support area:
77000 (important support, if broken, the medium-term trend may accelerate to short)
72000~ 75000 (target in extreme cases)
📌 resistance areas:
89000~ 90000 (early neckline, has turned to strong resistance)
93000 (if the market rebounds, it needs to break through this level to reverse the trend)
