Coin World News Report:
Bitcoin returned to around the 30-day moving average of 65,000 overnight, and then began a rebound. As of this morning, it has pulled back above 67,000. Two days ago, I told you that the resistance at 70,000 was too strong, and it would rebound after a 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 is adjusting in oscillations, recovering all the previous day’s decline in just six hours. Currently, the price is above 67,000. Although the price has not changed, many people’s accounts have shrunk. If nothing unexpected happens, 65,200 will be the low point in the next few days.
Currently, the MACD indicator is close to a bearish crossover. Bears should be cautious of a false bearish crossover leading to a new high, hitting your stop loss. Bulls should be careful of a divergence in the indicator after a new high, followed by a much more intense adjustment than this one. Follow the overall trend, oppose the minor trend, manage expectations and risk control.
From the perspective of this downward momentum, a retracement is inevitable. Pay attention, funds are the key. The main reason is that this macrocycle is raising interest rates while still providing liquidity, which has extended the duration of the macrocycle. Originally, at this point, the recession should have already occurred (if we follow the four-year cycle, it would be like October 2020, when the recession caused by the 312 incident had already ended).
The result is that it has not started yet, and it is not even known if this recession will start. Of course, the real recession will start next year, so it has been delayed by one year according to the four-year time frame. Therefore, although there are ETFs, there is no expansion of the balance sheet in the background, which means there is not enough money, and there is no crazy bull market. As a result, altcoins are naturally struggling to survive, except for the meme frenzy.
“Red people have a lot of controversies” Tesla CEO and X platform boss Elon Musk recently announced that he will randomly select one Pennsylvania voter who has signed the America PAC petition each day to receive a $1 million prize, aiming to encourage more voters to support former President Trump.
However, this move has already violated federal laws, as any act of “paying, proposing to pay, or accepting payment for registering to vote or voting” constitutes a crime, with a maximum sentence of five years’ imprisonment. CNN has contacted Musk, several email addresses listed on the Super PAC website, and the organization’s financial director for comments but has not received a response. The Department of Justice has also declined to comment for now.