$BTC

Let me elaborate on my views regarding the future of Bitcoin:

1. First, let's look at the daily level of Bitcoin. According to my analysis, Bitcoin is in the first five waves of a complete upward eight-wave pattern at the daily level. In other words, it's in the highest wave, so the peak in this stage will appear here. Note that I say it's a temporary peak, not the final peak of the rise!

2. I will answer the question of why I haven't taken long positions. The Bitcoin wave pattern is in the fifth wave phase, and since the third wave is extended, the probability of the fifth wave being extended decreases, meaning we look to short in this phase. Secondly, looking at MACD, I mentioned during the live stream that it is very rare to see three MACD peaks at the daily level; this MACD pattern is extremely bearish! Therefore, I say there is no logic for taking long positions.

However, you have all felt this recent market situation; no matter how severe the indicator divergence is, the price still cannot effectively pull back and decline, so we must also be cautious when shorting.

3. Now point 1 just mentioned that a temporary peak will occur. So where exactly will this peak be? Or how should we operate in the future?

In terms of operations:

Actually, 105200, which is the spike at 9 AM today, is really testing the strong resistance of Fibonacci 2.618 above Bitcoin. If the daily line can form a bearish pattern here and does not break above 105200, or if it closes an entity daily bearish candle near 105500, I will look to take a short position in conjunction with the resonance of the indicators.

If we cannot close an entity bearish candle, then we should place a short order at 109900 and wait for execution to go short, using the position reference from yesterday's post.

I believe the temporary peak of this rise will be at either 105200 or 109900. To short based on the 105200 level, there must be clear bearish signals and resonance with technical indicators before proceeding, as we must learn from past losses. If we are to short based on 109900, and Bitcoin easily breaks above 105200, then we should place our orders, manage the position, and set a stop loss to take the short.