The view remains unchanged, and it has begun to stabilize and form a double bottom pattern! $BTC $ETH Follow Kai Ge's homepage 🛫

The sharp drop the day before yesterday, the violent pullback yesterday, has basically leveled out, as if playing a joke on us, returning to the starting point. Overall, a long bullish line was formed on the daily chart; is this a reversal? Many people are concerned about these questions, so let me explain in detail.

First of all, the daily chart is still in a downtrend, but if this current rebound breaks and continues to push higher, then this would be a daily-level rebound. However, overall, the weekly and daily charts are still in a bearish trend.

Next, looking at the 4-hour level, due to a rebound in Bitcoin, a double bottom structure has formed here, and it is currently testing whether the neck line breaks.
We need to pay attention to the situation around the neck line at 93000. If it breaks, then it confirms a reversal at the hourly level, and we will need to change our thinking, focusing on buying on dips in the short term. And where is the resistance above? It is around the 100000 level, which we mentioned before about the rebound after the pullback.

This also aligns with our previous expectation of a three-wave rebound.