Bull market life and death at stake! If the "golden defense line" of 80,000 to 90,000 cannot be held, years of bull market may collapse overnight.
Looking at historical trajectories, the upper track of that crucial channel on the weekly chart is like the "lifeline" intertwined with bulls and bears. When the price completely falls below this defense line, it often heralds the decline following the peak of the bull market. Reflecting on the past three market reversals—the peak retreat in 2017, the aborted rebound in 2019, and the trend reversal in 2022—all left their foreshadowing here. The warnings from history are clear and heavy, making it impossible to take lightly.
Currently, if bulls want to protect the lifeline of this bull market, they can only fight hard! Only by continuously refreshing historical highs and constantly raising the price center can they transform the current adjustment into a more solid platform.
Ideal path: If the price can climb to a peak of 126,000 USD, then even if it faces a 20% level deep correction in the future, it can still be regarded as a healthy adjustment within the market.
Death line: But if the rebound cannot even touch the 110,000 USD mark, then the range of 80,000 to 90,000 USD becomes the "heavenly net" that bulls must defend. Once this defense line is lost, it will signify that the core "nerve" sustaining the bull market has been severed, and the upward trend is likely to face the fate of ending.
The historical signal has already emitted a glaring red light. The time and space left for the bulls are limited; they must either launch a fierce attack to create new highs or steadfastly defend the key support. Otherwise, the bull market that has been maintained for years may suddenly fade here, leaving only a regretful echo. Bulls have no retreat; they can only fight with their backs against the wall! If the defense line is completely lost, the bull market feast may dimly come to an end.
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