Morning Review: Bitcoin continued to fall yesterday but did not break the key level. I believe the market trend remains bullish, and the bull market has not ended!#比特币关键区间
Bitcoin is currently at 93,000 points, having pulled back about 6,000 points for two consecutive days, which has scared quite a few people. Many are asking if the bull market is over. This kind of drop is very alarming, especially with the significant pullback in altcoins! Let's analyze this together now!
From the market, we can see that Bitcoin tested a key level again last night but did not effectively break below it! We are currently looking at the daily K-line, and we can clearly see that this key level aligns with the middle band of the Bollinger Bands. Therefore, since Bitcoin has not broken this key level for two days, I believe there is no downtrend formed! So everyone should not panic too much! In a bull market, deep pullbacks are a normal phenomenon. Moreover, Bitcoin has only pulled back 6,000 points from its high, which is not too significant and can only be considered normal fluctuation! A pullback must be at least 20% to be considered a true pullback! From the perspective of historical analysis, every pullback in previous bull markets has exceeded 20%. Many people will argue that historical data cannot be counted, and we cannot predict the future! This is indeed true, but what you may not know is that I have experienced two bull-bear transitions, and the accumulated experience is very rich. Although history cannot be repeated, it can be very similar. Each K-line is drawn by humans; you cannot say that the traders in the past bull market were human while the current traders have become machines, right?
Even though the world has been running for so many years, there is nothing new under the sun, so history will constantly overlap. The only lesson humanity seems to learn is that it never learns its lessons! This sentence applies to everyone!
Currently, the fluctuation amplitude of Bitcoin is very small. Even if we look back at the two pullbacks in March and August this year, they both reached 30%. Therefore, if the trend reverses now, Bitcoin must at least pull back to around 68,000 points. The momentum of the bull market has been building up, and as long as the trend has not reversed, every pullback is an opportunity to enter the market! This is similar to what I pointed out in September this year. We can see that on September 26, it also dropped by about 11%. This fluctuation is quite close to what happened on September 26, and I have repeatedly suggested to enter the market whenever there is a drop. I wonder if you understand this!
Regarding altcoins: DOGE is about to break through! It has cleaned up a batch of profit-taking in the last two days!
Morning Review: Bitcoin continued to fall yesterday but did not break the key level. I believe the market trend remains bullish, and the bull market has not ended!
Bitcoin is currently at 93,000 points, having pulled back about 6,000 points for two consecutive days, which has scared quite a few people. Many are asking if the bull market is over. This kind of drop is very alarming, especially with the significant pullback in altcoins! Let's analyze this together now!
From the market, we can see that Bitcoin tested a key level again last night but did not effectively break below it! We are currently looking at the daily K-line, and we can clearly see that this key level aligns with the middle band of the Bollinger Bands. Therefore, since Bitcoin has not broken this key level for two days, I believe there is no downtrend formed! So everyone should not panic too much! In a bull market, deep pullbacks are a normal phenomenon. Moreover, Bitcoin has only pulled back 6,000 points from its high, which is not too significant and can only be considered normal fluctuation! A pullback must be at least 20% to be considered a true pullback! From the perspective of historical analysis, every pullback in previous bull markets has exceeded 20%. Many people will argue that historical data cannot be counted, and we cannot predict the future! This is indeed true, but what you may not know is that I have experienced two bull-bear transitions, and the accumulated experience is very rich. Although history cannot be repeated, it can be very similar. Each K-line is drawn by humans; you cannot say that the traders in the past bull market were human while the current traders have become machines, right?
Even though the world has been running for so many years, there is nothing new under the sun, so history will constantly overlap. The only lesson humanity seems to learn is that it never learns its lessons! This sentence applies to everyone!
Currently, the fluctuation amplitude of Bitcoin is very small. Even if we look back at the two pullbacks in March and August this year, they both reached 30%. Therefore, if the trend reverses now, Bitcoin must at least pull back to around 68,000 points. The momentum of the bull market has been building up, and as long as the trend has not reversed, every pullback is an opportunity to enter the market! This is similar to what I pointed out in September this year. We can see that on September 26, it also dropped by about 11%. This fluctuation is quite close to what happened on September 26, and I have repeatedly suggested to enter the market whenever there is a drop. I wonder if you understand this!
Regarding altcoins: DOGE is about to break through! It has cleaned up a batch of profit-taking in the last two days!
