Qingmei Bo Coin: Why is it said that the bottom of BTC this round may be between 60,000 and 69,000 USD?
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1. Analyzing from the chart
First, look at the chart, this is the weekly line of Bitcoin, the line chart since 2018. (The line chart is drawn based on closing prices, which can reduce some noise for medium to long-term analysis.)
In terms of form, there is a huge upward wedge, and the lower edge of the form is also an upward trend line, which is a structural support and may be the bottom of this round of pullback.
The previous bull market was a double top structure, with the top of the line chart (calculated based on weekly closing prices), the support range formed by the double top is 60000-66000, and according to the candlestick chart, the top is 64800 - 69000.