Bitcoin BTC has broken the original upward trend in the long-term cycle, while the short-term cycle shows signs of bottoming after an oversell. Together, these indicate that there is a demand for a rebound in the main consolidation area before the current downward trend.
Therefore, the market shows that there is already a bottoming structure at a smaller scale, but it has not yet broken through. The upper levels are under pressure, creating a clear separation in price, which limits the height.
Due to time constraints, I won't elaborate on the details. In short, it can be described as a demand for a surge after a consolidation at a smaller scale, but this surge occurs on the compound bearish side, with limited height, so it is not advisable to chase too high. Continue to refer to the price reactions above the resistance. $BTC
BTCUSDT
Perp
92,409.4
+2.42%
ETHUSDT
Perp
3,249.2
+1.43%
BNBUSDT
Perp
891.09
+2.54%
