On February 3, 2025, Bitcoin experienced a huge fluctuation and fell to a low of $91,231. It bottomed out at 10:00 am UTC+8 on the same day and rebounded quickly. As of February 4, it returned to above the integer mark of $100,000.
Based on the fact that the opening angle of the 4-hour triangle consolidation is too large, I gave the view in my Youtube channel video on January 31 that the opening is too large and it is easy to find support quickly downward. At that time, it was given to find a sideways oscillation support level near the 4-hour MA144 daily moving average, that is, there may be a sideways oscillation consolidation action near US$102,000. But in the end, this position was broken. Bitcoin continued to find support near the daily structural support level of US$90,000. In other words, the time level of Bitcoin's support level was enlarged from the 4H level to the daily level. The action of looking for support downward after the time cycle switch occurred, resulting in the overall decline of altcoins after the decline of Bitcoin on February 3, 2025. Tens of thousands of people were liquidated, and hundreds of millions of assets were wiped out.
Returning to the weekly level of this round of bull market BTC, we can see from the chart that this round of market is composed of five rounds of weekly level upward trends. The first round of the weekly level upward trend started in January 2023. After the low point of $15,476, a weekly level Wukong bullish candlestick appeared in January 2023. Pay attention to the chart; this Wukong bullish candlestick is the first breakthrough bullish candlestick that appeared after a long downtrend. This bullish candlestick broke through the downtrend, and thus the market began its upward journey. This breakthrough bullish candlestick occurred after being suppressed by the downtrend for a long time, similar to Wukong suddenly bursting forth after being trapped under the Five Fingers Mountain for 500 years. The signature bullish rise is swift and decisive, breaking through the downtrend. Therefore, we call this bullish candlestick the Wukong bullish candlestick.
The bullish candlestick following the Wukong bullish candlestick is the Bajie bullish candlestick, which is followed by a series of interference candlesticks. These interference candlesticks disrupted our judgment of the bullish trend of the market, but ultimately these interference candlesticks exist within the sphere of influence of the Bajie bullish candlestick. The book (K-line Journey Strategy) refers to these interference candlesticks as monster candlesticks. Here we will see that after the weekly level Bajie bullish candlestick appeared on January 16, 2023, it was affected by the monster candlesticks. However, the bullish trend persisted, and ultimately on March 13, 2023, the weekly level produced the Sha Seng bullish candlestick. The Sha Seng bullish candlestick represents our life; our life is full of fluctuations, so after the weekly level Sha Seng bullish candlestick appeared, there were some fluctuations. Eventually, the Tang Seng bullish candlestick mentioned in the (K-line Journey Strategy) book was produced. Returning to the above chart, the first red box you see in the lower left corner gives the first weekly level of the current bull market as an upward trend, which occurred from January 2023 to April 2023.
Similarly, we have provided five red boxes in the above chart. In the fourth round of the halving bull market process, we have already identified five rounds of weekly level upward trends. As of the time of writing, the fifth round of the weekly level upward trend has only produced a Wukong bullish candlestick at the weekly level. This Wukong bullish candlestick appeared on January 13, 2025. As of the current date, February 4, 2025, the Wukong bullish candlestick is still alive, and the recent three weeks, including yesterday's rapid decline, are all interference candlesticks at the weekly level affecting the Wukong bullish candlestick. (The K-line Journey Strategy) refers to these as monster candlesticks. Therefore, after the Wukong bullish candlestick appears at the weekly level, although we are currently experiencing two consecutive weeks of interference at the weekly level. As long as we do not materially break below the opening price of the Wukong bullish candlestick at the weekly level, which is $95,000. Then in the future, after stabilizing, when the Bajie bullish candlestick, Sha Seng bullish candlestick, and Tang Seng bullish candlestick of the fifth round of the weekly level upward trend appear, Bitcoin has a probability of rising to around $150,000. However, once it falls below $95,000 on the weekly level, it may initiate an adjustment from the daily to the weekly level.
Smart readers who patiently read to this point can have a very clear and simple understanding of the first part of the (K-line Journey Strategy), 'Journey Strategy'. We completely transform the seemingly random candlesticks into Wukong, Bajie, Sha Seng, Tang Seng, and monsters through anthropomorphism. This is easy to read, easy to understand, has stop-loss measures, contains trends, and has a storytelling interest.
I hope friends who can read this will like and share, so more people can understand the (K-line Journey Strategy) and profit from understanding the K-line.
