$BTC 8.4 Bitcoin Market Analysis
Bitcoin has experienced two rounds of increases since $15,443. After consolidation, it will start the third round of increases, with an expected increase of 100% and a target price of $110,000.
In terms of time, the last round of consolidation lasted about 150 days, and it has been consolidating for 144 days and is nearing its end. The bottom position is expected to appear in the next one or two days, especially tonight to tomorrow morning is a key node.
In terms of space, the price of Bitcoin fluctuates upward along the channel, oscillating every time it touches the upper track of the channel, and starting to rise when it touches the lower track. The small-level market structure shows that it may be a double-zigzag or triple-zigzag structure at present, and the key support range is below $60,000 to $57,700.
Long orders are arranged in batches in the 57700-60000 range.
