[What’s next for the market? 】
The current price of the pie is more than 29,800. Last night it hit 30,000 again and then fell back. It has hit 30,000 three times recently. We can see in Figure 1 below that at the weekly level, we use the blue line as the dividing line, which is also the dividing line between bulls and bears in the last round. We can see:
In the area above the dividing zone, the pie has gone through a cycle of nearly 500 days, rising to a maximum of more than 38,000 points.
The area below the dividing line, which is the bear market area, has fallen by more than 16,000 points, a drop of more than 50%. It has gone for about 530 days and has returned to a price of about 30,000, which is near the dividing line between bulls and bears.
Therefore, there is a particularly high pressure level along the dividing line. Can it be broken through this time? In fact, the current market liquidity is still relatively insufficient. Without relatively large narrative benefits (such as Bitcoin ETF) to bring large entry funds, the space is still relatively limited. Let’s look at Figure 2 again. The four-hour triangular convergence box also quickly moved out of the direction.
To sum up, in terms of operation, we still recommend as mentioned in the previous article: we have to wait and see near 31000 to see if we can effectively break through the upper bull-bear dividing line, and then break through 3.3w to stand firm. You cannot always expect to sell at the highest point in trading. In this round of rise, we have gained almost 5,000 points from 25,000+, which is still quite good.
(Thank you for liking and following and not getting lost, let’s catch the bull market together)
