The price has been continuously rising for the past two days to $BTC , and I mentioned that we should be aware of a potential 3000-point pullback. Yesterday, the market significantly retraced, and we need to pay attention to what ⚠️
🏆 First, let's review the daily chart shared in the last article. I mentioned that if the daily price cannot continue along the upper Bollinger band, it may replicate the previous price trend to the first pullback in the red box, retracing to the middle Bollinger band. However, one crucial point is that there are two types of pullbacks❗️
1. If it mimics the previous trend, then there will be another day with a nice upward movement to drive the middle band up quickly! In this price trend, we can expect a breakthrough of 70000 and further attempt to touch 72000, and after that, a deeper pullback (that is, the end of the five waves, starting the ABC wave pullback).
2. But if the current pullback continues to decline and further breaks below 66200, we can confirm that the 5th wave has ended, and the A wave of the ABC wave is starting to decline.
👍 Entry position:
Yesterday, I recommended the entry point of 67800. Last night the price kept grinding down, and I actually judged that the price might drop to 67000. However, I still entered early at 67600. I am currently also in a losing position. So friends who entered at this position like me, remember to set a stop loss at 66200.
Ps: I still want to remind everyone that the drop on Monday, over 60% was a false drop‼️
