2.29 Thought Sharing

Yesterday, indeed, Bitcoin and the Nasdaq saw a significant drop, as shared in the thoughts on 2.27, this round of upward movement has been too slow, and there is a high possibility of large funds exiting the market, so no trading reference points were provided. As a result, yesterday it indeed broke down from the double top pattern. Saturdays usually do not have much volatility; today I will share expectations for the larger cycle and future plans.

First, looking at the daily level of Bitcoin, yesterday there was a large bearish candle that tested the previous five days' double top pattern, and today there are still no signs of stopping the decline, with only around 76000 being the key point. Since the last drop, momentum has weakened, and it has started to fluctuate, making it very likely to test around 80000 again, and after hitting the 7xxxx range, a new round of upward movement may begin.

In the short term, we need to pay attention to the 83000 range; if there is a valid breakdown at this fluctuation and chip exchange position, we can enter the market.