Let's take a look at today's market analysis. First, we will look at Bitcoin. Bitcoin has finally formed a monthly line. From the perspective of the monthly line, it is exactly as we predicted; Bitcoin's monthly line has formed a bearish continuation doji.

For example, from the monthly line perspective, there is still a possibility of a decline. Therefore, from a long-term perspective and a short-term monthly perspective, we need to be mentally prepared for further downward movement. However, from a larger cycle, looking at the overall monthly cycle, Bitcoin is still in an upward trend. So after the decline, because it is close to the upper boundary of this downward trend line, there is still a reason to buy on dips.

From the monthly line perspective, there are currently two points worth speculating on. The first point is the new low created after the last spike, which is 76,600. As long as this point is not broken, we can consider it as an effective short-term support level, and we can buy on dips to set up long positions.

Secondly, approaching this bottom, we have previously emphasized the integer level of 70,000 to 80,000, where we can set up our long positions.

After discussing the larger cycle perspective, let's first look at the 4-hour level. Recently, we have mentioned that the overall downtrend has been broken. Although it created a new low when it retraced to this point, yesterday it ultimately closed with a solid entity above, which is quite critical. Currently, this point has formed an effective short-term support.

This small double bottom formation means that the next thing to watch is whether the bulls can successfully push above 84,500. The upper levels of 83,000 to 84,000 are strong support. If the bulls want to continue to be bullish, they must at least stay above 83,000 to 84,000. Then we need to pay attention to one point.

If this point cannot close above, then further movements will likely consolidate in this area before moving downward. If the weekly entity can stabilize above this point, there is still a possibility of an upward movement. We should focus on the range of 88,000 to 90,000 above.

Below, we need to pay attention to whether this small double bottom formation can break down, as it has formed effective support in this area, specifically in the range of 80,000 to 81,000.

If given another opportunity, we can still set up our short-term long positions in this range. If you still feel confused about trading,

Follow the KK strategy and scan the public account below.

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