The chart below shows the upward trend line that has not been broken since 2019.

From a technical perspective, the 60,000 level is a very important support now, but we should not only rely on technical analysis and also consider macroeconomic factors.

At this level, the market makers will continue to create panic, dump, shake out, fake breakouts, fake breakdowns, and then cause liquidation in the futures market, only to then scoop low-priced chips from retail investors.

This will be followed by a violent rally across the entire crypto market.

What we need to do now is stay away from futures and continue dollar-cost averaging.