The prediction in my articles over the past three days is consistent with BTC, which has once again surged to 110,484, just 116 points off my predicted 110,600. Overall, it is still quite perfect.
Here, I will not make directional predictions in the short term, and will patiently wait for the market to tell us the new direction. Those who are holding long positions at low levels can continue to hold and look towards new highs.
Market Analysis
Today, I mainly want to talk about the larger levels
First of all, on the weekly chart, looking at the weekly pattern of the spot combined with the trading volume since April, it is hard to imagine that it could reach particularly high positions in the coming months, but the issue of 120,000 shouldn't be a big problem. The premise is that the short-term price stabilizes above 106,000 and does not fall below 103,000. (As indicated by the green and red arrows)
The structure at the hourly level in between is likely to be a breakthrough to a new high this month, pushing up to 116,000, then falling back to 112,000, with wide fluctuations at the hourly level in August, and possibly pushing up to 120,000 in mid-August or September.
Another scenario is that the price quickly breaks down below 106,000 in the short term, and rebounds without the strength to break through 109,600, which would lean towards a significant correction as indicated by the black arrow in the weekly prediction, causing the price to fall back below 100,000.
In summary, as long as the short-term price can stay above 107,000, those holding long positions should boldly continue to hold!
