Bitcoin!

Actually, Bitcoin is the barometer of the cryptocurrency market. Although the performance in the past few days has been disappointing, with low volatility and lack of strength.

However, the overall trend of the cryptocurrency market still depends on Bitcoin's movements. Previously, Ethereum moved independently, and in the past couple of days, you may have noticed that SOL is also moving independently.

With Bitcoin consolidating, this gives the big brother a chance to his little brothers. The weekly chart shows the peak of the fifth wave of Bitcoin around 135,000, which hasn't been reached yet, but the daily chart's peak has already been touched. The fourth wave pullback of the small fifth wave is still confirming its bottom.

During the day, we should still focus on 110,000. If it breaks below, we will look to accumulate longs in batches.

If it drops below 105,200, it's time to exit. There are a lot of orders piled up around 115,200. It is expected to return soon.

I still believe there will be one last small fifth wave rise before it turns bearish. The timing and space are not very suitable, and it may not rise at all but just consolidate through September, then follow the U.S. stock market for a correction.

After all, in terms of patterns, it is also a double-top probe, but I do not recommend positioning long-term short positions at this level. Before it weakens significantly, there will still be a decent rebound, and I still think so. During the day, we should pay attention to whether it can break and hold above 112,500.

Looking up at 1,145 and 1,169, I anticipate that if this round of rebound reaches around 118,300, one can consider positioning a long-term short. If there is no fifth wave, this level will be the high for the next six months! Below, there are at least 20,000 points.