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This week, Bitcoin has experienced a big dump for two consecutive days, leading to a chorus of lament across the entire market. This continuous big dump is even more frightening than the oversold earthquake on October 11, why?
An oversold drop of more than 20,000 points was just a one-time fatal blow, while this continuous big dump over two days has led many people to pin their hopes on a rebound. The result is that the strength of the rebound is extremely weak, and no matter how one goes long, they are being liquidated.
At the time, on October 11, the oversold situation occurred around 4 a.m., and many people escaped a disaster while sleeping. This big dump basically happened during the Asian session, and after the U.S. session, it came under further pressure and plunged again, without even a moment to catch its breath. The span was large, and the duration was long; most people couldn't bear it...
Bitcoin has fallen more than 3000 points today, gradually approaching the important support level of 103,000. Once it breaks below, it will head towards the support level of 100,000. Let's take a look at Ethereum, Solana, and Dogecoin; the overall downward trend is basically consistent...
Whether you are holding spot or long positions, it truly feels like a mute eating bitter gall, with an unspoken suffering. If this trend continues, then the current fall is far from enough...#BTC