Long-term trend

As the daily candlestick approaches closing, we see that Bitcoin has indeed completed the expected breakthrough of the 41130 price level with a large bearish candlestick. Those who have been following my videos closely are aware that this is the most crucial price level since Bitcoin's peak at 48200—the bull-bear line. I have emphasized in previous videos that once 41130 is penetrated by a large bearish candlestick, the next target will directly be set at the 36200 price level. It is worth noting that there is strong support near 39100 in the current long-term trend. Therefore, there may be a demand for upward retracement when the market reaches this price level in the future. Hence, those who did not join us in shorting Bitcoin at the high last week should not chase the market. Regardless of long or short positions, the current market conditions do not justify entering the market for the long term.

Medium-term trend

Looking at the medium term, the current market has maintained a very healthy downward trend, with a relatively short period of oscillation and a fast pace of decline, indicating a strong bearish control. Therefore, before reaching the above-mentioned long-term support level, the main force may not provide any medium-term opportunities. However, this does not prevent us from finding short-term opportunities in the small-scale charts.

Short-term trend

According to the views expressed in yesterday's video, although the flag pattern we advocated for shorting was finally corrected into a box pattern, as I reminded in yesterday's video, confirming the direction is crucial. The fact has proven that holding onto short positions firmly was the right choice. The final price not only fell below our expectations but also directly hit a new low, demonstrating the charm of short-term swings. The current market has once again entered oversold territory, indicating a strong need for adjustment in price. For the subsequent short-term trend, we need to once again adapt to the market's rhythm, patiently wait for the entire consolidation process, and wait for the emergence of new structures and opportunities. It is important to remind everyone not to blindly chase the market, regardless of long or short positions. Patience is the first digit of the code to wealth. Welcome to join the Rabbit community.

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