From an overall structural perspective, Bitcoin is in the third wave of an upward trend, with the previous first and second waves already completed. According to the structure, after the completion of the third wave, there will be a pullback in the fourth wave and further upward movement in the fifth wave, with a target range between 80,000 and 90,000.
$BTC In terms of details, the current consolidation belongs to the subdivided structure of the third wave, specifically the second wave within the three-wave sequence. Once the consolidation is complete, the third wave of the three-wave sequence is expected to unfold.
In terms of stop-loss, it is recommended to pay attention to the key support level of 69,200. As long as this line is not broken, the overall upward trend remains solid. The current pullback is a great entry opportunity, so take advantage of it to enter and wait for the rise after the consolidation ends.
In summary, reset the stop-loss at 69,200; partners who took the Bitcoin long position last night have also adjusted their stop-loss to 70,000 to prevent slippage. #Bitcoin
