This decline is completely different in nature from the rebound after the first three weeks. It has resulted in a straight-line squeeze within two days, with major funds showing signs of retreat, and the market sentiment suddenly turning cold. In fact, the daily MACD two days ago already signaled an increase in downward momentum, indicating that the trend is basically established, and accelerated downward movement began yesterday.

From a multi-timeframe MACD perspective: the 1-day chart's death cross continues to open downward; the 2-day fast and slow lines have turned from upward to downward; the 3-day line has also flattened, losing upward momentum; the 5-day fast and slow lines are converging, signaling an imminent increase in downward momentum. Combining these signals, it can be confirmed that the wave 4 rebound since the February 6 low of $59,800 has ended, with around $76,000 being the high point of this wave. The market is now officially entering wave 5 of decline.

As for the stop-loss zone for wave 5, it is temporarily set between $56,600 and $54,800. #比特币震荡走弱