Oh my,
The bull market is about to end, and the bear market is about to begin.
Looking at it now, danger, danger, danger.
These past two days, I thought BTC would have a small pullback after a surge.
I didn't expect that last night, it broke down, and even lower.
Recently, the bulls should be nearly wiped out, with almost no survivors.
From the pattern, BTC has currently broken the life line, and the trend is downward. It's really not good.
Those who are going long recently really need to be cautious.
Before interest rates are lowered, such a pattern appears, making me doubt whether after the rate cut, there will be a new high or a return to previous highs, signaling the end of this bull market.
Recently, the external troubles of the U.S. have been resolved. Each country has received its corresponding tariffs. These days, the U.S. increases its finances by tens of billions of dollars daily. Life could have been flourishing. However, with a high national debt of 36 trillion, short-term maturities are constantly approaching. Every day, they have to pay 10 billion in interest.
Powell knows that once he retires and Trump is still in office, if he holds on until the end, the U.S. economy will collapse, and when he steps down, he might be skinned alive. Now, saving face and admitting defeat, he can retire successfully. They are all remarkable figures, assessing the situation, adept and flexible, all high-caliber individuals.
A rate cut in September is imperative.
Currently, looking at the daily chart, BTC broke the previous low yesterday but still hasn't truly broken 112,000. Recently, there has indeed been capital entering to support the market. The daily bottom is rising, with short-term rebound demand. A pullback near the previous high can continue to go long. Support is around 112,000, and resistance is around 117,000.
On the hourly level, MACD has crossed bullishly, stabilizing in the short term. Go long at 113,000, add positions at 112,000, stop loss at 111,500, with a target near 115,500.
On the weekly level, the pattern really looks a bit broken. A divergence at the top, a high-risk pattern. This week is very critical. If we cannot stand above 116,000 again, then this bull market will end, and the bear market will begin. Speaking of now, I personally suggest that as the market rebounds, it’s time to start thinking about setting up short positions. Moreover, even if there is another surge, I personally believe it is just the end of this bull run.
The great river flows eastward, washing away everything. Heroes at the end of their road, be cautious with your blade. It’s time to be prudent. If the pattern changes, change your mindset immediately and go all out to short.
Heroes do not stand beneath a wall of danger; what should stay should stay, and what should leave must leave resolutely. $BTC
