$BTC 7.11 Bitcoin Market Analysis
Bitcoin has been consolidating around $58,000 for about 120 days. Since Bitcoin has been consolidating from $73,881, it is expected that a new rise will start after the end of this round of consolidation. Previously, Bitcoin had consolidated for 150 days and is now close to the end, but it still needs to continue consolidating.
On July 8, we gave two possibilities:
1. Bitcoin ends consolidation at $53,329 and starts to rise.
2. Bitcoin continues to consolidate, forms a new low, and then rises again.
From today's perspective, the probability of taking the red route is greater; that is, it is currently oscillating in the xx wave, and after completion, it needs to hit a low point and take the z wave to end the adjustment of this round of market; a new rising cycle will start after the z wave, and the z wave has not yet started, so there is no need to go short in advance. The time has not yet come, and it is still oscillating in the xx wave.
#开单建议 Wait for the price to fall back to around 53,000 to buy
