Bitcoin's previous bottom of 900 is in danger, and the bulls only have the last line of defense left

The Bitcoin market is a market with a higher concentration of retail investors than the A-share market, which means it is destined to have a fate of sharp rises and falls, short bull markets and long bear markets. It is either irrational prosperity or pessimism to the core.
Fortunately, you can short sell, and a bear market is also a bull market for short selling, unlike the A-share market, which can only go long in a downward trend. In a downward trend, you can only go long and not short, just like pulling teeth out of a tiger's mouth. Occasionally escaping once or twice is really a fluke, but pulling teeth out of a tiger's mouth many times will definitely lead to death.
Since the rebound from 900 to 1930, 1300 has never fallen below, becoming the strongest defense line to defend 900. Now that 1300 has been broken, the spring has gone, causing panic selling, and OK website ushered in the day with the largest trading volume in history.

Bitcoin’s historical highest point is 8,000. We scale it down ten times to 800, and bring it into the chart to find its support.

It can be seen that there are only 1260 and 1070 in red before 900. When it fell below 1300 last time, the OK low point was exactly 1260, while Huobi fell below 1238. It has been confirmed that it has fallen below the support level of 1260, but other websites have not fallen below it, so it cannot be used as a basis for decision-making.
        Bitcoin rebounded this time around 1520, and if it falls to around 1260 again, 1260 is generally not sustainable. Only 1070 is left as support, which becomes the last line of defense for the bulls. Once 1050 and 1070 are broken, it can be confirmed that it has fallen below. Once this last support is broken, it will undoubtedly test the previous bottom of 900. There is a probability of more than 70% that it cannot be maintained, which will trigger panic and desperate selling.
Of course, even if it falls below 900, there will be a strong rebound. But this is also the last counterattack of the bulls, and there is only one, a desperate resistance, but unfortunately it is just a dying struggle.
If Bitcoin really reaches the day of testing 900, Litecoin will not be immune. The best case scenario is that it successfully defends 12. Note that this is the best case scenario, and the worst case scenario is not mentioned.

Solemn statement: The above analysis is for reference only and is not intended as any investment advice. You are responsible for your own profits and losses.