According to Liu Da's 'Wave Theory Study' analysis #波浪理论

October 31, 2024

The daily chart still has 2 possibilities

(1) Starting from 49000 as a b-wave rebound, then a c-wave decline followed by a new uptrend. (The daily line 73777-49000 is the a-wave)

(2) Starting a new uptrend from the red point 57493.

#btc This chart is an illustration of (2). The new uptrend will rise to 114000 in a wave progression form.

As long as it does not drop below 69517, it is believed to continue rising; if it drops below, be cautious of a pullback.

If it breaks through 73777, the recent target is the red dashed line 76955. (69517 is the previous high support level, 73777 is the historical highest point, and 76955 is the 1.13 extension position)

---- This blog only discusses waves and does not provide any trading advice, nor is it responsible for any trading actions.