Bitcoin has already dropped enough, so where does the analysis of insufficient volume come from? Why should we still look at a third round of decline?

First of all, after hitting the bottom in the morning, the rebound strength is clearly weak. Bitcoin has dropped a total of 3,000 points from the first round of decline at 8.17, from 117.8 to 115. The second round of decline from last night to this morning has dropped a total of 3,300 points from 115.8 to 112.5, and the second round of decline even has a larger range than the first round.

As the highs continue to be compressed, the downward amplitude gradually expands, indicating that the number of trapped positions entering midway is continuously increasing. The downward volume has not only not been suppressed but has instead started to increase. Therefore, if this round of rebound cannot break through last night's peak of 115.8 and break the curse of shrinking highs, it may further lead to a third round of decline.

Thus, the viewpoint of the third round of decline is based on making a downward observation around 114-114.5, and at most, it will only incur one loss, which will provide the answer of whether it stabilizes and moves upward or further declines to 110,000.

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