Decoding Bitcoin's Market Trends: A Turbulent Wave May Arrive in a Few Weeks!
Recently, Bitcoin's market trend resembles a perplexing drama, leaving many investors bewildered. In my opinion, the current trend of Bitcoin is reminiscent of the typical distribution phase seen at market peaks.
Looking back, whether early this year or from April to July last year, or even further back to March and November 2021, Bitcoin has exhibited similar trends. At that time, Bitcoin hovered at the peak for about two months, and after completing the transfer of chips, a dramatic plunge occurred, causing many investors in the market to be 'cut off' as they were likened to 'chives'.
For right-side traders, patiently waiting for Bitcoin to confirm a break below the neckline before shorting is a good choice. Once it breaks below the neckline, Bitcoin is likely to initiate a 'big waterfall' style drop. Before that, Bitcoin will likely continue to fluctuate in the top range. Currently, the key neckline support level is above $100,000, while around $110,000 is the top resistance level. Bitcoin will oscillate between small support and resistance levels around $106,000, and traders can take advantage of this volatility range for arbitrage, which has been our trading strategy recently, with frequent operations almost daily.
Now, Bitcoin has been oscillating at the top for a full month, and a second head has already begun to take shape. It is speculated that in a few weeks, the market makers may close in, leading the market to a significant turning point. In fact, some of the more sensitive altcoins in the market have already started to decline first, with many having suffered significant losses. Fortunately, we precisely exited at the high point last month, successfully avoiding this potential risk.
For spot investors, this is certainly not the time to blindly buy the dip; caution is still needed. Let the bullets fly a little longer, and patiently wait for Bitcoin to experience a big waterfall-style drop. Perhaps only when market sentiment is extremely pessimistic and prices hit bottom will there be a real opportunity to buy the dip.
The current market is unpredictable, so everyone must stay alert, and join hands with Teacher A Jie to capture the best timing for bottom fishing and grasp the wealth code! #MichaelSaylor暗示增持BTC $BTC