Long-term Trend

When the confirmation of our previous video views finally arrived, we saw another large bearish candle and a new low on today's daily chart. This trend undoubtedly aligns with our expectations. I have been emphasizing that the price would drop to test the support of the bull-bear line at 41,130 since Bitcoin touched $48,200. With this expectation realized, we are now at a crucial point where we need to assess the future trend. We need to focus on whether the bull-bear line can be broken by the daily closing price. Once the bull-bear line is breached, the next target for Bitcoin's decline will directly aim for $36,200.

Medium-term Trend

After several days of consolidation, we saw a large bearish candle directly breaking through the support at 42,044 on the medium-term chart, and it closed below the bull-bear line at 41,130, accompanied by a clear characteristic of increasing selling volume. This undoubtedly dealt a heavy blow to the bulls. As for the future expectations of the medium-term trend, we all know that a barefoot and bearish candle with increasing volume appearing in the trend indicates a bearish continuation, and the next candle opening below the break line also indicates a higher probability of continuing the decline after the adjustment.

Short-term Trend

Our patient observation finally led to the formation and breakthrough of this structure. Those familiar with my trading mindset should know that a price breaking through the lower edge is a signal for the acceleration of the market and a good time for entering short positions in the short term. I also promptly posted a graphic and text reminder on X. Due to the rapid decline in price and the strong support effect of the bull-bear line, we see that the short-term decline has stopped and a rebound has begun. Therefore, there is a need for consolidation of the previous decline within the day. If a small-scale structure reappears, it will undoubtedly provide another opportunity for short-term operations. Let's continue to wait patiently.

Patience is the first digit of the wealth code. Welcome to join the Rabbit Community.

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