The following content is a transcription of the video. For a detailed analysis, please view the YouTube video.

Current Market Overview

Today, we will discuss the future trend of Bitcoin. Is it long or short? We suggest that you adopt a half-position waiting strategy, and consider short-term short entry. This is blockchain thinking, I am V guest. If you are listening to our program for the first time, welcome to subscribe to our channel.

Recent Market Review

In the video a few days ago, we mentioned that Bitcoin has stopped falling, but the subsequent direction is still unclear. Therefore, it is recommended to adopt a half-position wait-and-see strategy. When the price of Bitcoin reaches $68,200, the altcoins will also reach this point at the same time, and you can consider reducing your position at this time.

Weekly K-line analysis

Next, let's look at the performance of the weekly K-line. Depending on the drawing method, last week's weekly K-line closed at the upper edge of the bull fin, which may mean a bullish trend. However, the long lower filament drawn from the chin may suggest that the bulls' strength has been exhausted. We also noticed that similar examples often end up with a long lower filament with a big positive line and a short position.

Daily and short-term trends

On the daily and 4-hour charts, we can see an obvious converging triangle. This triangle will determine the future direction of Bitcoin. If the upper edge is broken, the market may go up; if the lower edge is broken, the market may go down. Therefore, in the small-scale trend, we can only take one step at a time. Today is likely to be a change day, and there have been many cases of changes at this time point before.

Small-scale strategies

In the 15-minute analysis, if the price fails to break above $67,900 before 12:00, you can consider shorting. Although there is still room for profit in the short-term short position, long-term investors are better off not getting involved for the time being, as the direction is still unclear.

Wave theory perspective

If we look at the subsequent trend from the perspective of wave theory, assuming that the current is the starting point of the first wave, and the subsequent adjustment may form the second wave. According to the wave theory, the low point of the fourth wave cannot be lower than the high point of the first wave. Therefore, if the current wave structure is unbalanced, a larger second wave adjustment may form.

Market Outlook

Combined with the overall environment of the current market and the upcoming US presidential election, Trump's election probability is relatively high, coupled with the continued loose monetary policy, it may be sooner or later that the bull market breaks out. However, if Bitcoin falls below the key support level of $65,000, the retracement depth may reach $60,000.

Summarize

Today's discussion ends here. I hope everyone has a clearer understanding of the future trend of Bitcoin. We will continue to pay attention to market trends and bring you the latest analysis in the next episode.

YouTube link: (most complete video)

https://www.youtube.com/watch?v=jq9pe8WL6dM

https://www.youtube.com/watch?v=KM74jvBRBQg