$BTC Evening Viewpoint:
Speaking with pictures: The Bitcoin hourly level is currently expanding in a large trumpet shape, and the trumpet shape has already been broken. The previous high of 91529 has also successfully stabilized. As long as Bitcoin can maintain above 91529 and consolidate, there will be continued opportunities to touch the 92636 position. If 92636 can be broken, then you can continue to look forward to the previous high of 94185. My personal opinion: I believe that close to the interest rate cut, there will definitely be a wave of rally, because this is positive news. The current positive news has not yet materialized, so it is still positive news. I don't know how it will go after the interest rate cut is announced because I cannot predict the future.
As long as Bitcoin does not fall back below the price corresponding to the upper boundary of the trumpet shape, which is 91279, it will not fall back to 90145. If it falls back into the interior of the trumpet shape, it will likely have to test the support at 90145, which can hold and continue to move upwards. If it breaks below 90145, the lower boundary of the trumpet shape at 88012 will be seen again. This is my understanding of the current market.
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Bitcoin breaks through 91968 with volume, chasing long positions on the right side. Falling below 91400 with volume and unable to recover means chasing short positions to take the pullback, with good stop-loss management.
Bitcoin's hourly level breaks and stabilizes at 92636, looking upwards at 93698-94185. Only breaking 92636 can extend the upward trend.
On the 4-hour level, breaking below 91030 looks down to 90273-88933. Breaking below 90273 means that a pullback will start.
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Continuing to look at the chart: According to Fibonacci, the target position for this wave of rise at a 1:1 ratio is 93019. For those holding bottom long positions, you can continue to hold until 93019. If you want to gamble for a higher position, remember to reduce your position before gambling again. As for whether it can touch the Fibonacci 1.618 position depends on whether Bitcoin can break the previous high of 94185. If it can break, there is a chance to touch the 1.618 position at 95512. If it cannot break, I will be satisfied with 93019. This market either stays still or rises to a point that makes you afraid to get in. The more you are afraid to enter, the more it rises. The best defense is offense: the bold thrive while the timid perish. That's it, meeting adjourned.
