$BTC Has the Bitcoin bull market arrived? Will there be a crazy bull market this year?
In the mid-term market, Bitcoin will pull back to around 60,000, and the high point is still around 68,000. A market vote is attached at the end of the article.
Bitcoin has been in a scorching trend recently, and continues to consolidate at a high level of around 2,000 points.
Many friends may also be hesitating whether to chase high or leave the market.
Then relative to Bitcoin, I would like to talk about cottages first. I don’t know if you have paid attention to the cottage market in recent times.
Take some relatively strong cottages to see that the trend can be roughly divided into several stages:
The first stage: daily line pin breakout-suppression and retracement of support levels.
The second stage: daily line entity breakout-suppression and support conversion.
The third stage: accelerated rise-pressured July support level fall.
So far, this round of rebound market has basically ended, and the next high consolidation will wait for Bitcoin to catch up.
The commonality of the above-mentioned altcoins is that they actively pulled up, took on the selling pressure, and broke through the highs in July and August.
Let's observe the high point in July again. The strong altcoins also reached the top before the big cake.
After that, the big cake reached 70,000 at the end of July, and the weak altcoins simultaneously made up for the rise and reached the high point, and the rebound ended.
Now let's look at the big cake. Taking the strong altcoins as a reference, the big cake is in the second stage, and the next step is very likely to suppress the support and resistance conversion.
For the callback position, I personally prefer to hit back to around 60,000-60,500, the Fibonacci retracement 0.618 position.
Rather than 61,300, because this support level is too obvious.
When the big cake callback, you can also find some weak altcoins and hold positions to wait for the rebound.
After the callback, for the big cake, the high point is still around 68,000, the top of the daily downward trend, and the strong pressure position.
In the long run, I still don't see the factors of the big bull in the current liquidity.
I prefer 25 years to see the progress of the bull market. This process may be accompanied by the accelerated depreciation of the US dollar or the collapse of US banks.
A large amount of incremental funds and liquidity are injected into the crypto market to promote it.
Finally, put a vote at the bottom of the article to see what everyone thinks of the market at the moment, and the data will be announced tomorrow.
