$BTC/USD plunges. How far will it go?

2021年1月21日

Today, BTC has dropped significantly and is currently below $32,000 at the time of writing. The most recent plunge was on January 11th. There are some differences from that time.

First of all, it is a drop from the cross-shareholding bottom crack. With the addition of these chart patterns, the speed of lowering will be faster.
In addition, all moving averages are also below because the moving average was in a convergent state. From here it is likely to turn into a downtrend in the short term.

Another important factor is the correlation with the stock market. Most recently, both the Dow Jones Industrial Average and the Nikkei Stock Average are in a risk-on mood. Until now, the cryptocurrency market has been correlated. However, today is the exact opposite.

Is this reduction an opportunity?
Bitcoin $32,000 and $30,000 are repulsion lines. Even if it goes up, it is expected that it will be sold soon.

Is it the turn of Altcoin from here?
It seems that it is necessary to pay attention to that as well.