Currently, the price of Bitcoin is around 67,700. If you bought the dip below 67,000, you can take profits today. This is because Bitcoin may present better low points in the near future. However, for those who bought at 60,000, 62,000, and 65,000, there is no need to move, just hold on to those positions.
The first possible path is the yellow route, which is the one I hope to see. Bitcoin is currently in the second wave adjustment phase of the third wave, and the next will be the main upward wave of the third wave. Once it breaks the new high, we will see it challenge 80,000 or even 90,000. This is why I’m reluctant to let everyone take profits on low-position long orders, fearing to miss this wave of increase.
But we also need to guard against another possibility, which is the white route. This route is a guiding wedge structure, which could also cause Bitcoin to face resistance around 70,000 and then pull back to around 62,000 before restarting its rise. This route will make the market more complicated, but the ultimate goal remains the same—breaking above 80,000.
The large structure of Bitcoin remains bullish towards above 80,000. In the short term, we need to pay attention to whether it can smoothly break through 70,000.
