#BTC Market Update
Let's start with the conclusion: Bitcoin has dropped from 111980 to 100372, following a standard three-stage decline (like a sawtooth pattern going down).
Now rebounding from 100372, don't be too quick to call a bull market; this rebound hasn't even formed a "driving wave" and can at most be considered a breathing period in a downtrend — just look at how it's stuck halfway up the previous decline (Fibonacci 50% level), like squeezing toothpaste.
Here comes the key point! There are two possibilities ahead:
1️⃣ Either it will create new lows (continue to test lower)
2️⃣ Or it will consolidate at the current position (swinging back and forth like a seesaw)
The chart shows the most common way this can unfold, but the market's temperament is unpredictable, so we need to watch how it develops as we go. Remember two ironclad rules:
① A rebound is not a reversal; don't chase high as soon as it rises.
② Be cautious of breaking new lows; it might be a bear trap.
