Don’t panic, retreat is normal at present.

The bearish mood is relatively strong these days. Looking at the daily line, MFI has entered the overbought region, and the falling in the short-term is for sure. According to the market data, the enthusiasm for buy long is not so high. The long/short ratio of BTC Contract is 0.91. From a technical point of view, within 1 hour, MA30, MA10, and MA5 are arranged in sequence, which is a typical sign for a drop. Bollinger Band opened downwards; MACD moves below the zero axis; KDJ and RSI turned downwards. All these indicate a drop. Pay close attention to the market this weekend.

Don’t panic, retreat is normal at present. The bottom this time is expected to be between 37,000-37,500 USDT. The price would go straight to 42,500 USDT after this decline.