This morning, Weibo, Twitter, and Moments were flooded by Xue Manzi. Three days ago, Da S passed away, and the video and photos of Xue Manzi being pushed onto the ambulance were arranged on Twitter to be sent out as if he died in the afternoon of the 6th. The information was sent out in the early hours of the 6th, and it was clearly false news, but with images, many people believed it. Sure enough, by the evening, things took a turn. Xue Manzi himself posted on Moments interacting with his daughter. Xue Manzi is indeed a big influencer on Weibo and an angel investor. When Jack Ma was looking for Masayoshi Son, the first angel investor he sought was Xue Manzi, but Xue Manzi thought Jack Ma looked strange. He thought that if Jack Ma could get all merchants to enter Taobao, it would be like an aircraft carrier landing on Mount Everest. Although he didn't invest directly in Jack Ma, after Masayoshi Son invested in Jack Ma, Xue Manzi also followed suit and made a significant profit. After the cryptocurrency wave hit in 2017, Xue Manzi also supported many projects, but most of them soon went to zero. This has led to Xue Manzi and others being referred to as the 'scissors' of the crypto world. I just brushed through Xue Manzi's Twitter and saw that he was also making moves on Binance Chain a few days ago. I won’t elaborate further here, but in summary, after this operation of surviving from death, Xue Manzi will surely gain traction.
After Bitcoin retraced to 91,000 USD on 2.3, it quickly rebounded above 100,000 USD, and then fluctuated repeatedly in the 102,000 - 96,000 USD range for the last three trading days seeking direction. This is a transition area, and we can see from the chart that the BTC candlestick has entered the vicinity of the near intersection area of the triangular consolidation. The near intersection is the transition area, and it is worth noting that the position of the intersection is on 2.20. Although a breakout action occurred on 1.17 for the triangular consolidation, the time distance from the breakout action to the intersection position is too far. Therefore, the attraction of the intersection to the candlestick caused the price to quickly retrace to 91,000 USD. After rebounding to 100,000 USD, the chips began to concentrate around 102,000 - 96,000 USD. It should be noted that the current time is at 93,000 USD, and the intersection point still has an attractive effect on the price. More fluctuations and consolidations will occur in mid-February.
At the same time, on the weekly level, we are in the fifth round of the bullish journey of the weekly level in the realm of Wukong bullish candlestick. The adjustments of the last three weeks after the appearance of the Wukong bullish candlestick have all revolved around the entity part of the Wukong bullish candlestick. In our book (K-Line Journey to the West), we refer to the recent three weeks of adjustments as the monster candlesticks, or interference candlesticks. The interference candlesticks have disturbed our judgment of the trend. However, at the opening price of the Wukong bullish candlestick, which is 95,071 USD, it has not been completely broken down by the weekly level candlestick yet, and we are still in a bullish trend at the weekly level. Once this bullish trend allows Bitcoin to complete the fifth round of the bullish journey in this bull market and complete the weekly level of the Bajie bullish candlestick, the Sha Seng bullish candlestick, and the Tang Seng bullish candlestick, the price of Bitcoin may reach 150,000 USD or even higher.
If we say that the first bull market of Bitcoin halving is solid, with the largest volatility. The second halving bull market is liquid, and the third halving bull market is gaseous. Currently, in the fourth halving bull market, Bitcoin's state may be in an ionized state. Solid, liquid, gaseous, and ionized states are the physical forms of matter. I believe this also applies to Bitcoin. In a solid state, due to its low market value, Bitcoin is prone to huge fluctuations. In the liquid and gaseous states, the volatility gradually decreases, but during the transformation from liquid to gaseous, we have experienced a very long bear market. Now, in the current ionized state of Bitcoin, the price is gradually stabilizing. But the trend is more evident, which makes us see a better upward trend for Bitcoin around 100,000 USD in this bull market compared to Ethereum and altcoins, with a more stable price fluctuation range. Even in this fifth round of the bullish journey around 100,000 USD, the amplitude of the box price and triangular structure is getting smaller and smaller. However, this bull market can refer to the bull markets of 2017 and 2021, and the cycle rotation will drive Bitcoin to new heights.
At the same time, my new understanding from this round of the bull market is that although altcoins have sector rotation and cycle conversion, 99% of altcoins cannot outperform Bitcoin. This point can be seen in the ETH/BTC trading pair, SOL/BTC trading pair, and BNB/BTC trading pair. In the more mainstream altcoin and Bitcoin trading pairs, this trend becomes increasingly obvious during the bull market. According to the 28 law, the biggest winner of this bull market is likely to be Bitcoin players.
Due to the level, the views in this article are for reference only and should not be used as investment basis. Everyone is also welcome to subscribe to the book (K-Line Journey to the West), and I hope everyone can like and share it, so that more people can read (K-Line Journey to the West) and benefit from it.
