Let's take a look back at the slow bull market that started after Bitcoin bottomed out in November 2022. During this period, the trend was to rise for a while, then consolidate for some time, and then rise again, followed by more consolidation. This aligns well with the characteristics of a slow bull market.
I mentioned this trend at the beginning of 2023, but many people didn't believe it at that time. By the time the market had moved in that direction, it was already too late. Last month, we saw a pregnant candlestick pattern, and Bitcoin entered a consolidation phase. Will the market continue to rise after this consolidation like it did in the past?
The answer is yes, because the bull market is not over yet. As for how long the consolidation will last, we need to track the trend closely. To determine when the market will change direction, we should analyze it on a weekly basis, and whether we can analyze it correctly depends on individual technical skills.
If you can't determine the trend or analyze the market direction, whether you are trying to buy the dip or sell the top, you will lose the opportunity. If you don't buy the dip, you'll miss out, and if you don't sell at the top, you'll go on a roller coaster ride, or even get trapped. Bitcoin is nearing $100,000, yet many people are still holding cash, which means they've missed the opportunity. This situation isn't too bad; at least they haven't incurred losses, but many people have lost their capital by now.
