Bitcoin's monthly line has closed. After seven months of long-term rise, it has ushered in a correction, and it has closed in a bearish engulfing candlestick pattern. Many technical analysts believe that this wave of Bitcoin bull market has ended. Will the next trend really be the same?
The monthly line did not break a new high, ushered in a correction, and the volume rose, which is a healthy rise, but the short volume of the correction is shrinking, indicating that the air force is relatively weak. Bitcoin is still in the early stage of the bull market, and it has stepped back to the important support position formed by the dense trading area formed by the previous bull market.
Under the background of the bull market trend, there is a background increase, especially in the process of rising, the long indicators will be strengthened, which is clearly reflected in the trend of the previous few months, and the short indicators will be weakened. There may be a correction, but the magnitude should not be large. Especially with the expectation of interest rate cuts and the landing of Bitcoin and Ethereum spot ETFs, there is no need to worry too much at present.
The current paragraph belongs to the short paragraph in the structure. The way to do short position in the trend is not to chase the short position during the decline. If the retracement is blocked, go to high position. 👗嘉👥玮:1138798731 Consider reversal after the retracement breakthrough. For long positions, the failure rate of bottoming out on the left side is high. It is necessary to wait for the downward trend line to break through with volume and adopt the method of chasing after the breakthrough.
