$BTC 9.14 Bitcoin Market Analysis
Bitcoin is bullish in the long cycle, with two red and yellow route structures:
1. Red: Wave Z follows the triangle abcde structure, and is currently rebounding in the d wave. There is also an e wave retracement behind it, which will not break the new low and may be in the 55-56 range.
2. Yellow: Wave Z follows the ABC adjustment, and the subsequent C wave decline will break the previous low of 49,000.
Currently, it is more inclined to the red triangle structure.
For long orders at 58,000, stop loss of 70% near 60,500, and the remaining 30% is above 61,000.
