BTC Technical Analysis

1. From the perspective of support and resistance, Bitcoin has no bottom, because since the rise from 66835, Bitcoin has not experienced even a single decent pullback; therefore, the current decline is a process of finding a bottom (intermediate rally);

2. According to the triangular trend trading method, Bitcoin's 12-hour MACD indicator shows a top divergence, and the RSI indicator is doubly oversold, resulting in a pullback. Currently, it is supported at the 12-hour MA30 triangle. Bitcoin needs to break through 100,000 USD at the latest by early December; if it cannot break through, then the adjustment level will expand to the daily level, and the breakthrough deadline will be around December 10;

3. From the wave perspective, we are currently adjusting the upward segment from 86668 to 99588; if it falls below 90,000, it will expand to adjust the upward segment from 65596 to 99588. The adjustment limit will expand to 78500.

4. Personally, I judge that before breaking through 100,000 USD, the adjustment level will not expand.

II. Is the market at a peak?

1. The previous judgment that the market has not peaked remains unchanged;

2. A large-scale trend market is formed by the resonance of small-level to large-level upward movements, and destroying the trend requires a step-by-step breakdown. The current strength of the pullback can be termed as oscillation;

3. The probability of a large-scale trend market not experiencing an A-top is 99%. We only need to consider one issue: the main funds buying Bitcoin at a low position are aiming to sell at a high position, and forming an A-top would affect the selling price of the main funds. Therefore, under normal circumstances, the probability of an A-top is nearly 0.

4. If 100,000 is the top, the following is a schematic diagram of making a top:

III. A hard-earned opportunity in a bull market's pullback

1. The changes in the BTCD indicator during this pullback need to attract our attention; it has tested the strong support of MA60 multiple times, and finally, the daily K-line closed below it, and the small-level moving averages show a downward turning trend.

2. Previously I said, when the meme falls, everything thrives; now I want to say, one whale nurtures all things.