It is now clearly in the accelerating phase of the bear market. If such a market appears, do not panic excessively. It has been expected and prepared for in advance.
Oscillating back and forth between 50k-59k, with bearish declines and continuous downward movement of the pivot. Weak rebound, not exceeding 59k, maybe only reaching 56-57. It may take about 1 month in time.
Actually, this is the market trend in July 2021, and BTC successfully bottomed out and went bullish at the end of July.
The accumulating panic sentiment has worn out the last of the bulls, and the market may turn around.
However, if it cannot significantly break through 50k, then the oscillating structure will be disrupted,
Continuing to search for the bottom.
If there is a strong rebound, for example, up to 62 63, but not exceeding 65, it is even worse, indicating that the bears are accelerating and the bottom is lower. This is the worst case. #BTC#