A Brief Discussion on Technical Chart Analysis of Bitcoin's Upcoming Trends:
1. In 2017, 2019, and 2020, a complete flat wave structure was formed, with the wave 5 breaking through historical highs to initiate a super wave 1, and a double top pattern forming. Subsequently, from 2022 to 2023, it experienced a super wave 2 correction, which all seems natural.
2. The correction after the peak of 73K, which marked the 'top', should be considered the upper region of super wave 3. The subsequent movement is about to embark on the adjustment wave of wave 4, meaning what goes up must come down. However, this is based on technical logic analysis.
3. After an 8-month adjustment, rather than forming a bullish flag pattern, it is more accurate to say that the influence of major events has altered the price trend, logically based on expectations of interest rate cuts and election results.
4. Following the election results, Bitcoin's movement saw a rapid rise, reaching 100K in one month, starting from 49K, forming a classic wave structure of wave 3. The height is at 0.786 of the previous wave's peak. For the time being, it is highly likely that Bitcoin's price will continue to experience a period of consolidation and fluctuation for a considerable amount of time.
5. Our Opportunity: The main focus will shift to the explosive growth of altcoin markets, although some may worry about the rapid decline in this wave, with altcoins dropping 20%-50%. It is the gradual decline that should raise concerns. We can interpret this adjustment as a cleansing of leverage. At least we do not see signs of trend destruction, so there is no need for excessive worry.
6. Most altcoins have returned to the position after breaking through the bottom and confirmed the neckline. This is a good area and timing for accumulating assets. The market inherently possesses uncertainty; distrust leads to belief, belief leads to distrust. Different people have different perspectives.