The wind starts from the green duckweed, and the waves form between the ripples.

Even at the bottom of the valley, flowers will bloom; even at the bottom of the sea, the moon will be gazed upon.

Instead of complaining in the darkness, it's better to carry a lantern and move forward.

Hello everyone, I am trader Gege. The article has been on hiatus for a while. Apart from being busy, I always set aside some time each year to relax and not get too absorbed in the intraday candlestick charts. Taking time to relax and not focusing on the market can help me relax and adjust. I will update the articles irregularly when I have time.

The Dao is visible in the world, and thoughts are immersed in the abnormal changes of the wind and clouds. Although the market situation is ever-changing and diverse, as long as we observe with a calm mind, we can find a trading method that suits us.

First, let's talk about the market sentiment. The expectation for a bull market in the overall market has always been there. Most investment banks expect the Fed to cut interest rates in September, so the first rate cut is likely to happen within the year. Currently, the long-term bullish factors for the overall market are the interest rate cuts and the Fed's monetary policy. However, as everyone knows about the bullish factors, there is a risk of the market buying the expectation and selling the fact. Especially after the ETF for Bitcoin is approved, Wall Street's capital harvesting tactics will become even more aggressive, and the probability of the market moving against the consensus will also be high. In any case, the long-term view remains unchanged. The expectation of a bull market remains the same; it's just a matter of time. We won't speculate on when it will erupt or end. Instead, we will grasp every market trend that belongs to us, so that when the wind rises, we can go with the trend.

Now, let's talk about the technical aspect. As emphasized in previous articles, there was a probability of a retracement forming a double top pattern in the Bitcoin weekly chart. The market indeed moved as expected, breaking below the 60,000 support after closing the monthly candle in early July, then rebounding around the 53,000 level, followed by two weeks of continuous rise to recover the decline, and the market returned to oscillate above 67,000. The consecutive two weeks of solid bullish candles indicate a strong determination for a bullish rebound. However, whether the weekly chart will form a retracement after a triple top or continue the bullish trend to reach a new historical high of 80,000, the market situation in the last week of this month is crucial.

In short, if the subsequent market cannot break through 72,000 in one go, or if the weekly chart forms a fakeout above 72,000 or even breaks the previous high and then closes with a long upper shadow candle, it will likely be another bull trap. On the other hand, if the candle closes above the key level and forms a solid breakout, the probability of the bulls continuing to reach a historical high of 80,000 will be higher. This is an estimation for the major trend level, and the focus will be on the market in the next 1-2 weeks.

In the daily chart, this rebound of $15,000 has not yet seen a decent retracement, so there is a certain level of risk. A healthy market trend must be accompanied by retracements for the uptrend to be stable. Of course, this is not absolute, as there are also trends that clear out short positions. The rebound of over $20,000 in February this year did not see a decent retracement either. For short-term operations, support can be found around the 66,500-66,000 level for entering long positions, and if it breaks below, it's important to observe the 64,000-63,000 level for a rebound before entering. The key range above is 70,000-72,000. Refer to the estimation at the weekly chart level and act accordingly. This suggestion is for reference only. Enter the market with good risk management, and manage profit and stop-loss levels on your own. Specific strategies should be based on real-time market conditions.

Alright, friends, we'll say goodbye for now. I wish everyone the best of luck and smooth sailing in the cryptocurrency world! For more real-time advice, please contact me internally. Today's article ends here. For more real-time advice on Bitcoin, please find Gege.

Life is a process of constantly satisfying desires. If desires are not satisfied, there will be pain, and if they are satisfied, there will be boredom. Human desires are like stretched rubber bands. If they cannot find a place to anchor, they will snap back and hit themselves. Desires are actually a bottomless pit that we can never fill in our lifetime. Only by appropriately reducing our desires can we find more happiness in the journey of life. With less desire comes more relaxation and ease.

By/Trader Gege, a friend willing to accompany you in your resurgence

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