Bullish on BTC
First of all, as shown in the chart, we have not yet seen a lower low than the price of A. Therefore, in the current structure, I don't believe there is a sustained bearish logic.
Secondly, let's review this segment of the decline. There were two false breakouts on B. A certain amount of short positions were accumulated, and combined with the expectation of interest rate hikes in Japan, this led to the decline. During the process of the decline, the U.S. government was in a shutdown, and there was no data available.
In recent days, we have seen some data results and the monetary policy meeting. My personal feeling is that the combination of Non-Farm Payrolls + CPI + Japanese interest rate hike data is more bearish. However, from the market perspective, it hasn't dropped much. Therefore, I believe there should be a period of upward movement here.
Bullish:
Target 1, position of green 2, price around 100k.
Target 2, position of red 2, price around 110k
