In Chart 1, after the upgrade of the central point two days ago, it was expected that the 5-minute segment could initially break above $106,800. However, the actual market only rebounded to $105,900 before starting a second type of selling point decline, and it broke below $103,000, reaching a new low. Since $103,000 is a downward move without divergence (as mentioned in previous posts), this level will eventually be broken again; it's just a matter of time.
In Chart 2 (30-minute cycle), it can be seen that since the historical high of $119,600, a very narrow running central point has formed, with a range of $106,600-$106,800. If you are a bearish trader, you need to wait for a 30-minute rebound. If the price cannot break above $106,600, it will create a third type of selling point, which may continue to decline; otherwise, it will be invalid.
Looking at Chart 3 (30-minute cycle), since the historical high of $119,600, it is essentially a 4-hour downward trend (when switching to a 30-minute chart, it carries a running central point). If you are a bullish trader, assuming $119,600 is seen as a first type of selling point, then at least a 4-hour rebound must occur to create a second type of selling point (the 30-minute cycle includes the central point). Selling points are created from the rise—what is referred to as selling points here is merely a hypothetical description from the perspective of the 4-hour level.
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