Continuous washing has lasted for half a month. For retail investors, the current market is tasteless yet regrettable to abandon. Based on the clear bottoming out, Bitcoin's price is moderately maintained at a stage where it is neither high nor low. If one wants to buy at the bottom, there is still some distance from 88,000-89,000. Entering the market early raises fears of stepping onto a waterfall, and currently, the overall market is in a weak downward oscillation. The previously heated discussions about buying at the bottom to catch the last train of the bull market have recently quieted down, especially after Ethereum took the lead last night, quickly surging and then retreating in the early hours, with Bitcoin also responding with a rapid decline.

From a technical perspective, Bitcoin has already broken below the support of the trendline of the large cycle triangle oscillation convergence. Whether in terms of shape, trend, or distance from the bottom, there are no opportunities to enter the market. The washing seems to have turned the entire market into a stagnant pool. Do you still remember the most cost-effective area that the hunter was fixated on, 95,000-95,500? It has already been triggered today, but the market seems to be slow to rise. I completely understand that everyone is caught in a cycle of self-doubt; getting off the train feels a bit regrettable, while continuing to hold raises concerns about an accelerated decline in the afternoon. Today, the hunter will continue to track the situation with everyone.

First, let's review the movements of Bitcoin and Ethereum last night. I have repeatedly mentioned a point in my recent articles: the current market is in a situation of insufficient existing funds and limited external inflows. This means that any rapid rise in the market in the short term is difficult to stabilize. Whether it was the short-term fluctuations of Bitcoin and Ethereum last night or the recent repeated surges followed by declines, all prove this point.

Similarly, this explains why Ethereum formed a rapid decline during its strong surge last night. Bitcoin also follows a rhythm that cannot stabilize its price. However, does this really mean that Bitcoin and Ethereum have become victims of the washing market?

Let's talk about last night's market. In the process of rapid decline due to the inability to stabilize prices, Bitcoin clearly broke below the support of the triangle oscillation convergence. It should have followed the trend and plunged downwards. However, the reality is that after breaking below the triangle oscillation convergence, it quickly rebounded, with a short-term rebound exceeding 1,500 points. Viewed from a normal perspective, this 1,500 points seems trivial compared to the recent fluctuations of several thousand points, but we must pay attention to the details, my friends.

Where did this 1,500 points rebound come from? It was pulled up after breaking below the large cycle triangle oscillation convergence. This alone is enough to indicate that the current market still holds a very resistant attitude towards declines. Who is resisting the decline? I have discussed this in detail in my previous articles, so I won't elaborate further. I just want to tell everyone that this wave of false breakthroughs also suggests that the washing is about to end.

Breaking below the triangle oscillation convergence, short-term repeated breaches completely dispel the desire to go long in the short term.

Overall, we have entered a phase of downward oscillation, with short-term resistance around 97,000-98,000, setting up a short trap, discouraging bulls while enticing bears to enter.

Next, let's speculate on the possible market movements.

The washing is nearing its end, completing the final sprint waterfall. Based on the current price expectations, to complete the waterfall, a short-term drop of around 3,000 is still needed. Given that the forbidden zone of 88,000-89,000 cannot be touched, once the position of 95,000 is lost, buying at the bottom will gradually begin below 95,000. Therefore, whether or not the 88,000-89,000 area is defended, it is an unacceptable result for institutions (for details, see the hunter's previous article).

Conclusion: If 95,000 is broken (stop loss at 94,500), everyone can choose to stay out of the market and observe. Do not chase shorts, nor start buying at the bottom prematurely. This position must be defended; if it cannot be defended, the subsequent market will be completely chaotic.

If today the defense of 95,000 is successful, then in the case of the washing nearing its end, multiple retests will complete a new round of position adjustments, and then a slow rise will occur, avoiding the past situation of surging and then retreating. Instead, 97,000-98,000 will welcome a breakthrough and stabilize, gradually testing the 100,000 round number. This process may not be immediate, but it will be sufficiently stable, with each upward climb accompanied by slight pullbacks to continuously confirm support, raising the low points. Ultimately, in a stagnant market with no operational desire, a new round of highs will be completed. By the time the market reacts and the first step of the bull market starts, it will be too late, and the FOMO sentiment will rise, leading to a large number of retail investors buying at high positions, only to face a slaughter.

This year's bull market will definitely not progress smoothly; each peak will be accompanied by a slaughter.

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