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Bitcoin is really on the edge of a cliff right now, is it going to fall to an even lower low? However, as shown in the picture, fortunately, Bitcoin has held near the previous low. As long as it stands back up, it would actually be great Favourable Information, because this would become a false breakdown, and it could rise, just like the previous false breakdown at 100,000.
I think we don't have to wait long for the result; tonight's CPI should be able to stabilize the situation. Let's talk about a relatively bad scenario, which is that Bitcoin has truly fallen below support. The next support will be around 113500 and near the historical high of 112000. If it retraces to the previous high, there will be at least a decent rebound. I will pay close attention to these levels as they present a very good opportunity for a rebound, and the risk-reward ratio is quite favorable.