Hello everyone, I am Panda Brother, Bitcoin is approaching a turning point.
Today’s discussion is quite important and relates to personal interests, please watch carefully.
Brothers in the long positions have really made a lot these days, but don’t get too excited. Don’t let profits cloud your judgment during happy times.
The bears have suffered greatly, including myself. Recently, Bitcoin has continuously broken important resistance levels, and it has become an undeniable fact that institutions want to wash out all the bears.
Don’t look at the 120,000 Bitcoin anymore. This wave, I can only see around 106,500 at most, and that’s already the limit. There aren’t many bears left on the liquidation map.
A polar reversal is about to happen, and the long positions are being liquidated. During the downtrend, there will be many who insist on bottom fishing, so congratulations, you are about to be trapped at the peak.
Those who are over eighty thousand or ninety thousand will definitely be able to recover, there is no doubt about it. I like to say some affirmative things, that’s because that’s how I see it, how I analyze it. I won’t just say some vague things; saying them is equivalent to saying nothing. Although that way no one gets offended, I believe posting low-quality articles is extremely disrespectful to friends in the community. My insights won’t always be 100% correct, no one is right all the time. You can only take one step at a time, that’s how the market works.
Now the key point comes
This is a $BTC daily chart. I rarely use daily or 3-day level charts. Today I finally used it. The huge triangular range formed currently indicates a major directional split is imminent. The larger the time frame, the more significant the market reaction will be. The center of this yellow box is the center of the 3-day line. The center was pierced at the upper edge, and then it closed, this place could potentially be the peak. Even if it’s not, there’s a significant resistance level at 106,500 above. If an unexpected event occurs, we’ll see it here at most. If it breaks through and pulls back to continue upward, then it will break the previous high. However, without significant positive news, the bears have been wiped out, and the probability of continuing to push up is very low. Congratulations to friends who have made a lot in long positions, but if it breaks below 103,200 and fails to rebound, you should consider exiting. Don’t hold on to profits and ride the roller coaster; that could break your mentality. Friends on the bear side, don’t rush or panic, because there are still resistance levels above, and it’s not time for you to be anxious yet. How strong the rise is, the fall will be the same. With gaps everywhere on the screen, institutions will have to fill them.
Friends without positions are advised to wait and see. It doesn’t matter if you wait a couple of days. It’s not too late to act when the triangle range breaks. Whether it breaks upward or downward, let’s wait and see. If I’m wrong about the peak of 106,500, I will self-impose a three-day ban in the community.
