#圣诞行情分析
A year ago, I was very busy, and today I took some time to share how to prevent risks with Bitcoin before the end of December. This is a direction I want to share with everyone, for personal reference only.
First, pay attention to the three nodes in Figure 1: 1, 2, and 3. By doing so, you can determine the direction the market will expand next. Currently, the four-hour level has completed a phase of ABC waves, starting a rebound phase after a severe oversell. Yesterday’s volume breakout has not yet broken through node 2, so there is still a possibility of a drop below node 1, which would indicate a very weak rebound.
If node 2 is broken first, then this rebound will be relatively strong, and it will continue to break through a certain high point before testing again. If the retest does not break below node 1, this daily level correction will officially end, and there will be a high probability of breaking historical highs. If a new low occurs, a conservative prediction would be a downward oscillation breaking below 90,000.
Regarding Bitcoin's market share, it has also been mentioned previously, and the previous figure illustrates that the rebound looks to fail at 60 and fall back to slightly above 57. The subsequent state continues in this oscillating downward trend, and the appearance of lower lows indicates that we are getting closer to the time for altcoins to catch up.
The four-hour level also has a potential bat pattern, so the short-term bullish target has not ended, unless node 1 is broken.
As for the extreme low point I shared earlier in December, I will also view it as a wave and will reduce positions at certain high levels to maintain cash flow to deal with extreme market conditions.
Wishing everyone a Merry Christmas!
