The calculus of investing in Bitcoin (BTC) is simple: lower lows point to more lows, while higher lows signal a pending high, according to the analysis by crypto derivatives exchange Bitfinex.

根據加密衍生品交換Bitfinex的分析，對比特幣（BTC）投資的演算很簡單：下低點指向更高的低點，而較高的低點則表示待定高。

The analysis began by noting that Bitcoin price action has been displaying a series of lower lows since December 2021, suggesting a bearish trend unfolding in the short term.

該分析首先指出，比特幣價格動作一直顯示出一系列較低的低點，自2021年12月以來，這表明短期內發生了看跌趨勢。

The analysis highlighted that Bitcoin is currently testing the lower Fibonacci level, which could serve as a point of contention between buyers and sellers.

分析強調，比特幣目前正在測試較低的斐波那契水平，這可能是買賣雙方之間的爭論點。

"A break below this Fibonacci, especially on a decisive close, would signal a continuation of the bearish trend and open up potential targets lower, signaled by the next Fibonacci levels or the 1.272 Fib, if we're considering Fibonacci extensions," the exchange explained.

交易所解釋說：“如果我們正在考慮考慮斐波那契分機，則低於該斐波那契，尤其是在決定性的關閉時，會表明延續看跌趨勢並打開潛在目標較低的範圍，並由下一個斐波那契水平或1.272 FIB發出信號。”

The exchange also noted that a break above the Fibonacci, particularly on a decisive candle, signals a structural shift into bullish territory.

交易所還指出，斐波那契上方的突破，尤其是在決定性的蠟燭上，標誌著向看漲領土的結構轉變。

"This scenario would indicate that buyers are gaining strength and could push for higher price action, signaled by a move to the 0.618 Fib, followed by the 0.5 Fib, if the 0.618 Fib is crossed and closed above," it added.

它補充說：“這種情況將表明買家正在增強實力，並可能推動更高的價格行動，這是通過轉移到0.618 fib，然後是0.5 fib的信號，如果在上方越過0.618 FIB並關閉了0.618 FIB。”

The analysis also touched upon the implications of the 200-week moving average, noting that it is currently serving as a strong support level for Bitcoin.

該分析還涉及200週移動平均線的含義，並指出它目前是比特幣的強大支持水平。

"A glance at the weekly chart reveals that the 200-week moving average is providing support at around $87,441, a level that could be crucial in the short term," it said.

它說：“一瞥每週的圖表表明，200週的移動平均水平為87,441美元左右，這一水平在短期內可能至關重要。”

Pointing out that the price has tested this support on several occasions, the analysis stated that sellers are attempting to break below it to continue the downtrend.

該分析指出，價格已經多次測試了這一支持，分析指出，賣方試圖在其下方打破以繼續下降趨勢。

"However, buyers have managed to defend this support so far, suggesting a balance of strength between the two parties," it added.

它補充說：“但是，到目前為止，買家已經設法捍衛了這一支持，這表明雙方之間的實力平衡。”

The analysis concluded by stating that a break below the 200-week moving average could signal a weakness in demand, paving the way for a deeper correction.

分析得出的結論是指出，低於200週的移動平均線可能會標誌著需求疲軟，為更深入的校正鋪平了道路。

"This scenario would likely see sellers aiming for the 127.2 Fib, followed by the 161.8 Fib, if the 127.2 Fib is crossed and closed below, considering further Fibonacci extensions," the exchange said.

交易所表示：“這種情況可能會看到賣方的目標是127.2 fib，然後是161.8 fib，如果考慮進一步的斐波那契擴展，則越過127.2 fib並關閉了下面的127.2 fib。”