Evening Thought Analysis
The evening BTC trend presents a somewhat "conflicted" meaning, worthy of our calm observation. From the moving average system perspective, both short-term and long-term moving averages show a downward sloping bearish arrangement, and the price is steadily positioned below all moving averages, which undoubtedly indicates that the current overall trend is still leaning towards weakness, and market sentiment has not yet fully warmed up.
However, a bullish engulfing signal has appeared in the candlestick pattern, which seems to inject a bit of vitality into the short-term trend, suggesting that there may be a rebound opportunity in the near term. However, this positive signal creates a slight contradiction with the bearish trend conveyed by the moving average system, adding some space for consideration in operations.
As for the operational guide, we can consider attempting to establish a low long position in the range of 112700-113100. If we can successfully enter, the short-term target can initially be set around 113800; if the rebound momentum continues to be released, we can further focus on 114200. It was previously mentioned that the second wave of Elliott's five waves is at the top, now let's talk about the corrective waves ABC. Currently, the B wave rebound is ongoing, and the rebound above looks at around 4480, while the final bottom will still require some time, currently tentatively looking at around 3780.
Moreover, the B wave rebound is a good opportunity to escape the peak, so those holding long positions should remember to escape the peak because it will also be the final bottom, and a new round of market will be initiated accordingly.
As for the points of focus, at that time, do not ask me to tell everyone to buy the bottom.
