Why is the short-term target locked at 55,000 US dollars? Because it is a larger neckline position, and it is also the opening price of the previous big Yang.
Does this position have a good support function? Many KOLs have started all kinds of completely unfounded speculations. I don’t know how to believe that the decline will definitely stop here without the bottom structure being built?
Remember, there must be a bottom structure formed, from the bottom of 15 minutes, to the bottom of 1 hour, and then to the bottom of 4 hours, and continue to push up the bottom structure of a larger cycle, in order to say that the decline has been completely stopped and wait for a reversal. Then let’s see if there is a bottom at the 15-minute level now?
At this time, many second-hand market analysts came and said that the long shadow line of the big Yin column, combined with the large volume, and then there were several consecutive Yang lines, it should be a V-reversal. I can only say, my friend, V-reversal is only because of heaven, and making a mistake once will cost lives.
Do you see if the V-reversal is successful at 1 o'clock? You will become accustomed to picking up the pin at 2 o'clock, because it is a natural support level. As a result, the pin that plummeted to 49,000, you must have picked up the pin at 57,000, because it is habitual, and you should not be willing to set a stop loss when picking up the pin. From 57,000 to 49,000, the living will become the living dead!
So don't make blind judgments. Only when the market moves out of the similar structure drawn below can it be said that the decline has stopped temporarily.
First of all, the opening price of the big negative column is unlikely to be exceeded, and it has to come back. Whether it is a double bottom, a triple bottom, or even a multiple bottom, a solid bottom must be established, and then the neckline must be broken, and the retracement is confirmed to be effective. Only at this time, the market means a rebound or reversal.
The following figure is at the 15-minute level. If the decline really stops here in the next two days, and in the next week, it spreads from the 15-minute level to the 4-hour level, forming a similar bottom structure, then there is a chance that in the next month, the daily bottom structure, and in the next 1-3 months, the weekly bottom structure, then the big bull we are looking forward to will come.
