$BTC surged 5000 points in one day

Is it a rebound or a reversal?

Yesterday BTC really had wild fluctuations, first dropping 5000 points and then rising 5000 points. It felt like a moment in hell and a moment in heaven. Does such a strong rebound indicate that the market has reversed? Does it mean that the decline has ended? Has the reversal arrived? As it stands, I don't think so. So, why such a strong rebound?

First of all, I mentioned in my post yesterday that the rebound at the 100300 position would be stronger than the 103000 position. The 103000 rebounded by 3600 points, so the 100300 must be greater than 3600 points. Therefore, at the 100300 position, it rebounded 5000 points on the first day, which was actually within my expectations because I see the second resistance level at 105700. Although it ultimately did not reach 105700, it got close to 105300, which is only 400 points off from my expectation. To be honest, I should be the only one in the entire plaza who saw above 105000 after the first day's decline ended, so why did the 100300 position have such a strong rebound? Because if this position breaks, it indicates a qualitative change in the market. Breaking the 100,000 barrier means heading towards 95,000 and 92,000, with a drop of up to 20,000 points. Moreover, it also reached the strong support level at the lower Bollinger Band, so such a rebound is normal. Therefore, at this position, it is essential to create a sense of prosperity, letting the bulls see more hope. Because in many people's minds, as long as it doesn't break 100,000, the rise is not over. The more they think this way, the easier it is to set traps at this position. The market makers have always played it this way, and I believe that to break the 100300 position, it will take at least a week. Personally, I believe this position will break, but currently, the overall direction and market are still primarily bearish, so don't let surface appearances deceive you.

Warm reminder: Predictions only represent personal views and should not be taken as trading advice. Predictions may have timing errors and directional mistakes. The above views are for reference only, and profits and losses are at your own risk.