12.23 morning Big Pie Analysis
Looking at the trend of BTC since early November, this channel in the figure has great constraints and significance on the market.
Last week, the market fell from the upper edge of the channel to the lower edge of the channel, completing a round of trends. So this week we must first expect: Can BTC stand firmly on the lower edge of the channel, and then rebound and impact the upper edge of the channel.
Looking back at the light market on Saturday and Sunday last week, BTC rushed up and fell back. At present, it is still in a short-term bearish state. Although the market has reached 94,000 again, it should be noted that the depth of the retracement on Saturday and Sunday has eaten up 80% of the rebound on Friday night (92,300-99,800)!!
At the low point of the downward trend, the strong rebound has fallen back by 80%.
There is no doubt that the short-term bears are very strong, and we cannot judge that 94,000 has stopped falling at the moment.
Today we are going to observe the following:
See if BTC can stop falling in the 92300-95000 range. If it can, we can try to arrange a rebound long order. The first target is 99000
