Today's article expresses personal opinions based on the current reality of BTC weekly chart. It is not used as a basis for placing orders and is for reference only. 1: It took 49 days for the callback from point A to point B to be 17346 points; it took 37 days for the rebound from point B to point C to be 15606 points, with a rebound amplitude of 89.9%. 2: The total time from point C to point D is 18814.5 points, which is a total of 21 days. My personal opinion is that the height of point E will not exceed that of point C, and the rebound proportion from wave 4 will not exceed that of wave 2. Here are the reasons: 1: If wave 5 does not exist, then the previous waves 1234 should be a W shape. This shape usually has a characteristic that point D is higher than point B, but BTC does not have it.
This strong rebound yesterday corresponds to Bitcoin's rapid pullback. The subsequent decline corresponds to Bitcoin's rebound. However, currently, this is a pullback to the 61.8% support level, which is also where Bitcoin faced resistance.
Currently, the situation for Dogecoin is as follows: The hourly lifeline at 0.392 has been broken, which is a resistance for upward movement. The four-hour lifeline at 0.318 will bounce the first time it is reached; if this position is broken, the entire market sentiment will be affected, as leading coins have entered a bearish trend, which will similarly impact the bullish sentiment of other coins.
Ethereum: After falling below the lifeline of the hourly chart yesterday, it has been moving below this position and has not stood above it, which is obviously weaker than Bitcoin.
Currently, there are no conditions for opening a short position directly. One necessary condition for entering a short position is: the four-hour closing must be below the lifeline.
1: Yesterday, Bitcoin tested the four-hour lifeline at the 86100 position with three consecutive pullbacks, and the closing was above the lifeline each time, indicating that the bulls are resisting at this position. This situation is normal; most will rebound during the first pullback to the lifeline.
2: Whether it can reach a new high is still uncertain, but the price in this area has become sensitive, and after the first pullback, there will be a second one.
Various signs indicate that the current position is approaching the tail end of a bull market, which may not necessarily be the highest price, and is somewhat similar to the situation in November 2021.
1: The signal for USDT.D is approaching the trendline position on the monthly chart. 2: The Bitcoin hourly chart shows three consecutive candles below the lifeline at 88150. This is the first time since the 5th. 3: The Bitcoin four-hour lifeline is at 86120, and it has just dipped below this price. Since this is the first touch, a rebound is expected, and it is anticipated that the closing at 8 o'clock will be above this position, giving us a reminder that some long positions are starting to understand. If the four-hour closing drops below the lifeline, it can be judged as a reversal of the four-hour trend downward.
Keep a close eye on the four-hour lifeline (very critical)
Bitcoin continues to reach new highs, seemingly with unlimited upside potential ahead, but investing is a practice of discipline; one must remain clear-headed amidst the noise. It is impossible to have a market that only goes up without any declines. A drop does not indicate a change in trend, but if the four-hour cycle begins to turn bearish, it should raise concerns.
For Bitcoin, which has no price references ahead, it is more appropriate to judge the trend through candlestick structures rather than predicting prices.
If the price is above the four-hour lifeline, the bulls still hold the advantage, and shorts are not considered. If the price is below the four-hour lifeline, the bears hold the advantage, and longs are not considered. #BTC #ETH #BTC连续破新高,你看到多少? #DOGE飞”狗“在天
Today's main focus for Bitcoin is the hourly chart structure change in the 82000~83000 range Above 83000, the Bitcoin chips are heavily stained #BTC #ETH #BTC突破8W大关 #BTC创历史新高 #大盘的下一步?
The Ethereum hourly chart has broken below the life line, with the upper chips loosening. The large pie above 83,000 is bloodied. What should be the next move?
The current market trend is basically consistent with what was discussed in last night's live broadcast. Bitcoin and Ethereum have both broken below the bullish lifeline positions on the hourly chart.
Having anticipated the risks, there is a small pullback opportunity today, but the space won't be large. Bulls should be cautious. If you are unsure, you can replay yesterday's live broadcast video.
Bitcoin Hourly Chart Lifeline: 78858 Ethereum Hourly Chart Lifeline: 3165 If the hourly chart closes below these two positions, it is necessary to pay attention to short-term risks.
In the evening, we also discussed the key points to pay attention to at this critical time.
The big cake will soon see the 80,000 range. Everything has two sides; for some, the 80,000 big cake is a source of happiness, but for the majority, it could be a disaster. A similar situation can be referenced from 2021: the crazier the market, the greater the losses.
Pay attention to the K-line structure changes in the 82,000 to 83,000 range. Always stay alert; this is not the beginning of a bull market, but the mid to later stages of the bull market since October 2022.
The chart below shows the market trends from 2021 and the current market trends.