February 6, 2024, pie market observation #BTC!

In the past two days, the market continued to fluctuate in the range of 43333-42444, which is consistent with the judgment on February 1.

Although the fluctuations are large, fortunately, through continuous fluctuations, the mid-level rising structure has begun to take shape.

The next step is to pay attention to whether a new buying point is formed.

From a technical perspective, there are two possible trends:

First, if the support of US$43,111 is firmly established and it can successively break through the two pressure levels of US$43,333 and US$43,666, Bitcoin is expected to continue upward, with a target of US$45,000;

Second, if US$43,111 cannot be supported, a longer period of shock consolidation will be needed.

Personally, I think the first possibility is higher. As long as $43,111 can become the new support, the upward trend is about to begin.

However, views must be flexibly adjusted based on subsequent price and volume dynamics.

We hope you will pay close attention as we will continue to share our latest judgments and suggestions.