The "Carving a Boat to Seek a Sword" Series: Will the Bitcoin Trend Really Recur?
Hey, look, the current trend of Bitcoin is just like it was back in mid-June 2023, almost as if it were carved from the same mold.
First, let's look at the candlestick chart. Previously, it was swaying and fluctuating at a high position for several months, then there was a brief daily rebound on the MA120 line, but it didn't take long before it broke down again. Now, similarly, after some time of oscillation at a high position, there was a daily rebound at the MA120, followed by another downward movement, the trend is identical. Take a look at the multi-day CCI chart; it was a pullback pattern before, and now it is again, simply incredible.
After that wave of market activity in mid-June 2023, the Bitcoin price surged towards the middle track of the resistance line, even breaking the previous high during the fluctuations. Given the current situation, if the trend continues to align with the previous one, the Bitcoin price might really rise all the way to the upper line of the resistance line, and if it reaches that point, the price could break 110,000. This might just be another chance for everyone to "escape." However, on the flip side, the market can’t be predicted so simply; even though there are similarities, no one can guarantee the future will follow this script, so everyone should still be cautious.
