$BTC Today's market has dropped to around the support level of 101600. If it breaks, look for 99500. From the historical K-line trend and the bottom trend of smaller time frames, the support strength around 101600 is very strong. It is also the support of the lower Bollinger Band on the 6-hour and 12-hour charts. If it breaks, look for 99500; if it doesn't break, watch for potential pullback points. There may be a small pullback before continuing to break below 101600.
So, the critical point is 101600. If it breaks and holds, watch for 100500 and 99500. If it doesn't break, then there will be a surge to touch the high again. Therefore, in both spot and contract trading, we still focus on the 'short probing method' to capture waves as the main strategy.
Yesterday's market was also seen; we expected a sell-off, and it indeed dropped, holding at 106000 down to 103300 points. However, the market changed direction and surged to 107100 points. Except for Bitcoin breaking this month's new high, other mainstream coins and quality altcoins are all below this month's highs. This suggests that the market is always in the hands of capital. An ETF spot through BlackRock is entering, and with Trump's taking office, the entire crypto space is as chaotic as a dog's chew toy. Instead of this situation, we focus on capturing waves, observing before entering, as the current trend-following approach is no longer viable.
