BTC monthly closing is done! Let's talk about a few points worth noting:
1. The monthly closing price confirms a new high! The large-scale trend structure with both high and low points rising simultaneously still exists, and there is currently no reason to view it as bearish, but...
2. The monthly trading volume is still gradually declining, which is very similar to the divergence seen from the high in 2021 to early 2022. Therefore, the lifeline of the bull market should be at the left-side Local Low, which is around 74k!
3. In a large-scale bullish trend, if a small new high is achieved with shrinking volume, on one hand, it indicates that no one is selling, while on the other hand, it also shows that demand is weakening. A significant breakthrough to a new high with shrinking volume would indicate issues on the supply side...
4. The last bull peak was characterized by weekly and monthly divergence, but the current level seems to have shrunk. It is now a standard weekly divergence, which means that even if this divergence leads to a bear market, its depth may not be as significant as the last one, and it is more likely to be a technical bear market.
5. It is necessary to consider the possibility of 'multi-cycle co-movement'. The halving cycle, monetary policy cycle, trade war cycle, and the cycle of BTC entering global asset reserves, etc., may all simultaneously impact the market. Therefore, the future market will definitely be chaotic and irregular.
6. The advantage brought by BTC standing out from the entire crypto market may also turn into a disadvantage during the downward cycle. The crypto market is always evolving, and more and more new assets that are not affected by BTC's price are bound to emerge.
1. The monthly closing price confirms a new high! The large-scale trend structure with both high and low points rising simultaneously still exists, and there is currently no reason to view it as bearish, but...
2. The monthly trading volume is still gradually declining, which is very similar to the divergence seen from the high in 2021 to early 2022. Therefore, the lifeline of the bull market should be at the left-side Local Low, which is around 74k!
3. In a large-scale bullish trend, if a small new high is achieved with shrinking volume, on one hand, it indicates that no one is selling, while on the other hand, it also shows that demand is weakening. A significant breakthrough to a new high with shrinking volume would indicate issues on the supply side...
4. The last bull peak was characterized by weekly and monthly divergence, but the current level seems to have shrunk. It is now a standard weekly divergence, which means that even if this divergence leads to a bear market, its depth may not be as significant as the last one, and it is more likely to be a technical bear market.
5. It is necessary to consider the possibility of 'multi-cycle co-movement'. The halving cycle, monetary policy cycle, trade war cycle, and the cycle of BTC entering global asset reserves, etc., may all simultaneously impact the market. Therefore, the future market will definitely be chaotic and irregular.
6. The advantage brought by BTC standing out from the entire crypto market may also turn into a disadvantage during the downward cycle. The crypto market is always evolving, and more and more new assets that are not affected by BTC's price are bound to emerge.
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BTC
105,732.95
+0.95%