📊#BTC reaches support✔️

🧠From a structural perspective, the target of the bearish cup-with-handle structure was achieved, so a nice rally was justified, unfortunately it was $282 away from our long entry point. We ultimately failed to break above the resistance zone of 95835-96277, so we tried some shorts and have achieved a nice profit so far.

➡️If we want to reverse this downtrend, we need to build a long structure in the support zone, and the next resistance zone is around 98000-100000.

⚠️If we continue the bearish trend, the next support zone is around 90000-85700.

Let's see👀

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📊#BTC Complex Consolidation Phase📊

🧠It's the weekend again. It's easy to go out of complex consolidation when the market volume decreases. The overall market sentiment is still on the pessimistic side. We fell back after reaching the resistance zone.

➡️From the perspective of the market cycle, the previous downward trend is likely to end, because the downward trend line has been broken. The end of the downward trend does not mean that there will be no decline. It may also evolve into a larger downward trend. If we want to reverse this downward trend, then we need to build a long structure in the support zone. This is an expectation and requires enough patience.

➡️Since the support zone is below, we may also go out of the horizontal complex consolidation. If this scenario occurs, then we can enter the long trade after the price is squeezed to the limit.

Let's see👀

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$BTC