Today is Monday, and the price trend of BTC will be very

Post

Today is Monday, and the price trend of BTC will be very crucial!The Asian stock markets are expected to open with a significant drop, especially in Japan and South Korea. BTC will either weakly rebound, oscillating around 70,000 before dropping again, as seen in Chart 1; or it will consolidate for some time before choosing the weakest and worst trend, directly collapsing downwards, as seen in Chart 2.
Regardless of which trend BTC chooses, it ultimately cannot escape the fate of the end of the weekly level 4 wave rebound, which will then initiate the downtrend of the level 5 wave, as shown in Chart 3.
What we need to do next is to choose a relatively high point for BTC price rebound, and short BTC/ETH in batches and time intervals to capture the profits from this medium-term downtrend.

小龙先生

Blast! Since BTC has made a false breakout at 74,000, it will truly drop below 60,000 in the future!

The market makers of BTC are really skilled at manipulating public psychology and market sentiment; BTC just played a false breakout at 740,000! The market is also quite FOMO, and many people are shouting that the bull is back quickly. At that time, I also reminded my partners that this upward rebound is merely the 4th wave dead cat bounce on the weekly level, and once the rebound ends, it will initiate a medium-term downward trend.

However, I also overestimated the height of BTC's rebound for a time. I previously predicted that after BTC breaks upward through the triangular fluctuation structure, the rebound target prices would be 74,500, 78,800. As a result, the price rebounded to 74,000 and then halted the rebound, plummeting to around 68,000 in sideways fluctuations.

When the public realizes that this is a false breakout, BTC just happens to welcome a slight fluctuation buildup over the weekend without a straight drop. I immediately wrote an analysis article titled "Beware of BTC starting a medium-term one-sided downward trend to hunt down the bulls next week!" The logic includes five points; please refer to the quoted tweet below for details 👇.

Now the price of BTC is in a precarious situation, on the verge of collapse. Many hope that BTC can rebound to 69,000-71,500-72,000-74,000 on Monday, and then start shorting. However, the real market may not provide the opportunity for this high rebound. The most pessimistic scenario is that BTC slowly declines over the weekend, and when the Asian stock markets or U.S. stock markets open on Monday, it will drop sharply, directly breaking public's rebound expectations again!

Since the false breakout of BTC upward has been established, it will truly break below key support levels such as 62,800, 60,000, etc., initiating a new wave of medium-term one-sided downward trend. Breaking six towards four is not an unattainable fantasy, but a bear market weekly level 5 wave downward trend that is very likely to actually happen.

BTC price

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

BTC+0.78%

ETH+1.23%

.css-1iqe90x{box-sizing:border-box;margin:0;min-width:0;color:#EAECEF;}Today is Monday, and the price trend of BTC will be very crucial!

Today is Monday, and the price trend of BTC will be very crucial!