Let's talk about Bitcoin's price movement.
Currently, Bitcoin's weekly chart has reached the bottom again, marking another bottom since October 2023. The cycle has lasted almost a year and a half, so waiting for a wave of weekly bottoms is not easy. Personally, I attach great importance to this wave of weekly bottoms and firmly believe that it will drive the market upward. Therefore, I currently have strong confidence in the market.
At the same time, the MACD at the weekly level has basically completed the zero axis. The larger level of support and the zero axis are both quite effective.Additionally, Bitcoin has broken through the downward trend line since January 20, and the 12-hour chart has completed a retest. The breakthrough and retest have not been broken, indicating an effective breakout.
In summary, across three major cycles, the market is poised for a surge. Some strong resistance levels need to be gradually broken, and once it rises to 88,000, most short positions will likely be cleared. Furthermore, the current cloud chart on the monthly line is indeed downward, but the monthly cloud chart has a delay of 2 candlesticks. Therefore, even if it seems to be declining now, when the stop-loss occurs, it will be in 2 months. This means that from the perspective of the monthly line, the stop-loss may have already indicated a significant rise 2 months ago. Thus, the monthly line is better suited for bottom fishing, while the weekly line should still be referenced for directional changes, as the weekly line also has a delay of 2 candlesticks. So, even if it is 2 weeks late, the larger trend can still be captured, but if it is 2 months late, the main wave of a bull market will almost be completed.
I don't want to say much more, just talking about Bitcoin. This is not investment advice. I wish good luck to those who are bearish and those who have exited.
