Latest Bitcoin Price Update: Rising to the 86k~87k Range, Is It a Reversal or a Bounce?

The current Bitcoin price has risen to the 86k~87k range. Since the drop from 110k, we assess that 76k may be the endpoint of this round of decline. However, whether this means a trend reversal or merely a bounce is still uncertain.

If this rise is part of a bounce structure, then the minimum increase should reach 15k, meaning Bitcoin needs to push to around 90k. The first key resistance level is at 90k~91k, and at that point, a pullback may occur, but the specific pullback method still needs observation. From a time cycle perspective, it was previously anticipated that this wave of increase, if it is a bounce, would last about 15 days, and so far only 9 days have passed, indicating that the rise has not yet ended.

From a structural analysis perspective, the 3.17 analytical framework remains valid. Before the 3/c wave is completed, it is not advisable to short too early.

I still believe this is a bounce, not a reversal.

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