$BTC

Last night in the Wealth Password group, I emphasized that the correction on the 1-hour chart of Bitcoin has not ended. This morning's analysis reiterated that the correction has not ended, and then there was a downward spike. The market movements are so enigmatic that you can never predict their strength, but we can judge the bullish-bearish transition through structure. This is why I have been advising everyone to take profits on rallies since Wednesday; the main logic is that this wave of movements is at high positions in major cycles. When looking for small-level buying points at high positions in major cycles, it is essential to manage positions and risk properly. This morning's decline was quite strong, and there will be a rebound and corrective movement during the day. Whether this will directly trigger the crash and panic that everyone is concerned about, I personally believe it won't happen yet, but the risks are beginning to brew. I will provide a detailed explanation of the interlinked views of various cycles in my live stream analysis of Chan Theory tonight.