GuShiio.com GuShiio.com learned that according to Greeklive, the current sentiment in the crypto market is generally bearish, with traders focusing on Bitcoin’s key support level of US$82,000 as the bottom line to maintain the trend of a high time frame. Markets expressed concern about a rapid 17% decline in three days, with different views as to whether the sell-off was a controlled correction or a signal of a broader shift in the market. Technical analysis shows that the 2024 VWAP (volume-weighted average price) is the core support for the bull market at US$82,000-US$83,000. If it breaks below, it may disrupt the trend and test down US$77,000 – 72,000. Some traders have turned to a bullish ratio spread strategy to defend themselves, believing that prices may enter a period of volatility and may retest $88,000 before a clear direction is clear.
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