Many people believe that the current shape is a head-and-shoulders top, indicating that prices will continue to plummet. However, after several days of observation, the upper range is more likely to be a buying zone.
Yesterday's panic-driven violent drop may be an extreme shakeout action. If this logic holds, Bitcoin's price should quickly rebound to the original range.
Although the anticipated strong bullish candle has not appeared in the short term, the market is only in the bottoming phase, and it is expected that a new round of increases will begin within half a month at most. It is recommended to remain patient.
