As I mentioned in my previous post on Binance Square, I still believe that the confirmation of a phase bottom/top must go through a process of double bottom/top testing.
I still believe it will pull back to around 79000 to 80000, and then start a new round of rising.
As for whether this new round of rising is a rebound or a reversal (creating a new historical high)? That's another story.
And during the process of falling back to 80,000, it should move in three stages (the white line in the picture). There should be a small rebound at 84800, and then it will ultimately fall to around 79000 to 80000.
Figure two shows that the decline throughout this year has been such that each subsequent peak has not surpassed the previous peak, which means it has been maintaining a bearish trend.
If we are to determine whether the trend has reversed, which means that the pullback I mentioned above is not valid, we need to directly break through and hold above 88500.
Then it would be considered that the first peak has surpassed the previous high point, marking the start of a bullish trend.
And today's highest point is just a little bit short...
Do you think this is suspicious?
Will the main players play? 😂
