$BTC

I think it is still necessary to clarify the idea a little more.

In a bull market, there are often sharp declines. Is the bull still there? Yes, it is! When will it end? Not now!

In the first chart, the Ethereum four-hour level chart shows the left purple box. Do you remember we positioned the long positions for Ethereum here? At that time, it was a clear triangular expansion pattern; it did not make a sharp rise but slowly lifted the bottom. The area between the two red lines is where the pattern transformed; the triangular expansion turned into a wedge, which can also be called a flag shape, and Ethereum also broke below the wedge, so the price may retest the bottom area of the triangular expansion, hence we called for orders around 3265. Note that this is just a hanging order. To really decline, pay attention to the range within the yellow circle, because if it does not break below the low point around 3470 from yesterday's spike, it could stretch upward at any time. This wave of decline can be viewed merely as a second wave correction, and there will be a third wave stretch later. So as long as it does not break below 3470, if it forms a hammer line, you can go long at any time. The hanging order is just to pick up bloodied chips, to prevent a big spike like yesterday, that's all. The bull market is definitely not over.

In the second chart, the daily chart, the left box shows a second wave extension at the daily level, then it moved to the third wave. Yesterday's drop to 633 is the fourth wave of the daily chart; the second wave correction is shallow, and the fourth wave correction is deep, which conforms to the alternating principle of wave theory. Therefore, 590 here becomes a position that absolutely cannot be broken. In fact, yesterday's correction was already sufficient, and the order at 635 was similarly placed to catch spikes, picking up bloodied chips. Likewise, if it does not break below 590 and forms a hammer line, it can be long at any time; this hanging order is also to prevent spikes.

The bull market will not end that easily. Of course, in a bull market, sharp declines and spike phenomena are very common, so the hanging orders are naturally trying to reach extreme points.

As for SOL, the reason is simpler; it is because SOL's daily strong support is at the position of 171-172. If it dips down and spikes down, it must test 171-172 once; this is also the spike position, and we have similarly instructed you to place orders here.