Bitcoin has fallen below the critical line and we need to watch out for the next generation.

Bitcoin is offering a portion of its earnings after experiencing its best quarter in three months. Experts have pointed out that if Bitcoin falls below the critical line, it is likely to turn low again.

Bitcoin has fallen again from its recent highs reached last week and has fallen 7% since last Friday. The drop pushed prices below $ 40,000, and at 2:29 p.m. New York time, the stock was hovering around $ 37,914 in January.

TD Ameritrade Marketing Director JJ Kinahan said in an interview that "It's back so fast we should be a little more careful about speed than a few weeks ago,"

Bitcoin fell below the 100-day moving average, a half-time line traded according to experts. Bitcoin may be further weakened before reaching the 50 day support level around $ 34,773.

Some experts have said that Bitcoin's decline is only due to the correction underway after a strong rally before last week. Sponsored by billionaire Elon Musk and founder of Ark Investment Management LLC, Cathie Wood, and given Amazon's involvement in the cryptocurrency industry to help bring back the value of Bitcoin (Amazon has confirmed the news).

Matt Maley, Marketing Consultant for Miller Tabak Co., said, “If he comes back, it will be very high. But if we see a lot of downturn, everything will be heated soon.

The Bloomberg Galaxy Crypto Index, which tracks some of the major cryptocurrencies, fell 4.3% on Tuesday.

In recent years, cryptocurrencies have also become increasingly important to regulators. Recent changes in the US Congress requiring crypto companies to report their trades to the IRS could result in anonymous tax rates, according to a Bloomberg report released this week.

These new rules are part of a package of bipartisan bills passed by the US Congress and will require companies to post more than $ 10,000 in the digital asset marketplace. All this to raise US $ 28 billion. However, digital heritage enthusiasts still encourage these advancements and claim that policymakers can create clear rules to further boost energy in the long run.

At the same time, Gary Gensler, chairman of the United States Securities and Exchange Commission (SEC), hinted at the potential approval of the Bitcoin ETF. Crypto enthusiasts say the move will allow major investors to own more digital assets.

The SEC chief said ETFs that adhere to the SEC's strict mutual fund rules can provide investors with the protection they need. In his first big cryptocurrency talk, Gensler suggested launching an ETF focused on Bitcoin futures.

Frank Cappelleri, office strategist at Instinet, says that while Bitcoin is very volatile and volatile, it often creates cognitive patterns. From 2020 to April 2021, Bitcoin's gains started more than a month below the pattern, after which Bitcoin split off to create new bullish patterns and set new highs, until the time passed. finally dispels.

He said: “A similar situation could happen again at the start of the next escalation. When the recent attempt to cross the $ 40,000 mark does not encourage a return to the upside. following standards. If possible, "he said. "If we do, we can continue to do so by reducing it to a level below what it was in July."

To analyse

Yesterday the market was still volatile during the day, then the direct trade took place in the evening and the daily lines were doing well. You should have noticed Leega's ability to control the disc, but the next time you see this good guy going up or down without accelerating to control the slope, you should know that brother is back if Yoja is back. Most yang eruptions reach the ocean, and most yin eruptions are swallowed by the ocean.

Yesterday, Yangxian was very strong, reducing the risk of a further downturn, but this does not mean that we have to pull the market, the market is also long, so we can still play snake games at least August is that the beginning. what?

Then there are two ways to play Big Pie, one is to hit back and the other is to stay in today's clash. The increase is due to the fact that yesterday's closing price is higher, combined with yesterday's yin, indicating that the bull is stronger than the yin-yang pattern. This stream can continue to flow.

And the logic that oscillates for survival is that the pattern can be seen as both the bottom or the head and shoulders of yesterday and yesterday, so it can precede the left of the difference and then rise.

Both games have their own reasons, and it all depends on how Brother Lee plays, it's just a matter of whether he rises today or tomorrow.

From the 4 o'clock view direction, it can be seen that there is a difference between the head and shoulder model or the two-bottom model, the order of the model is more reason. In the case of oscillation models, if the pressure of the left shoulder decreases, the head and shoulders do not form and can rise higher, but to eliminate the shape effect, the upper run of the slope channel of $ 42,585, that is. up to 41,500-42,000 USD (change period):

Ethereum's attitude is more important than Bitcoin's. We also discussed this in our article yesterday, and also proved that Ethereum is really like a host.

The Ethereum double bottom design is still slightly away from the neckline and there are no cracks so the market may still change. The stress on Ethereum is in the range of US $ 2,910-3066, breaking through this area and creating a double bottom could build up the strength. But, as mentioned above, it started in August and still has plenty of time. No one is allowed to upload it to any other channel.

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