$PEOPLE Key Position Convergence Late Stage
From the weekly level, it is a pullback after a box breakout, and has been tested after the breakout; at the daily level, it can also be considered a rounded bottom (cup with handle), and now it is drawing the handle, which is a relatively classic reversal pattern.
At the same time, a triangle convergence pattern has formed for half a month.
With this wave following BTC's test at the top, many coins are following a convergence pattern.
1. If BTC breaks upward from the current structure, there may be a wave of upward movement, and small coins may have a probability of retracing. If people retrace to 0.7 to 0.75 and there is support, it can be a good entry point.
2. Then wait for the 0.9 position to break and stabilize; at that time, if BTC is in an excellent structure, it can be a good entry point. I have heard the big shots say: small coins actually carry leverage; if BTC is in a healthy structure, small coins typically outperform the market in terms of gains.