After watching BTC's recent price action for two days, I've come to a conclusion: there's absolutely no sign of a major correction right now.
Today there are basically two likely scenarios—either it surges upward directly, or it dips slightly before pulling up again. We already saw this yesterday: a minor pullback followed by an immediate rebound. There's strong buying support at the bottom; it didn't even break below 90000. Are you still expecting a deep correction? These minor pullbacks during a rebound are classic signs of consolidation.
If the price really pulls back to around the daily mid-band, that's a textbook entry opportunity. This is the standard pattern for a strong rebound—push up to the upper band, pull back to the mid-band for a secondary confirmation, then up—pullback—breakout—pullback again—continue breaking out. So entering here or just below, and holding until next week, shouldn’t be a problem. Based on the current structure, next week is likely to see sustained upward movement, potentially until the interest rate cut news is officially released.
The first key level to watch is 95400. The first time this level is reached, expect a technical correction of some magnitude. Watch the depth and strength of the pullback to judge whether there's more room for upward movement. Of course, this is based on this week's pace; if it only reaches this level next week, be extra cautious. So, if 95400 is tested for the first time in the near term, you might consider a short trade or reduce long positions. If the correction is minor, stay bullish. In theory, the top could reach the 96000-98000 range.
Pay close attention to the 86000-88000 range. This is the area most prone to trend reversals. First, it fills the previous short gap; second, it's a key previous support level; and the timing might coincide with the interest rate cut. If there's stagnation or weakness here, go short decisively—it could very well be the starting point for the next major bearish trend, potentially down to around 70000, kicking off a new correction cycle.
To sum up the current strategy: we're still in a rebound phase within a broader downtrend, but this rebound isn't over yet—there's still short-term upside potential. In the coming days, go long around 90000 or slightly lower, take profits or try a small short at 95400. If the rebound continues, the maximum target is 96000-98000. If a short signal appears in that area, consider a long-term short position with a target around 70000.
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BackrowObserver
· 21h ago
This market pattern is really repeatedly following the textbook. I'm just waiting for the 95400 level.
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DeFiAlchemist
· 12-12 13:24
nah the 86-88k transmutation point is where the real alchemical test begins... if price fails there, we're watching the philosopher's stone crumble into dust fr
Reply0
PortfolioAlert
· 12-09 21:42
Damn, there really aren't any signs of a correction this time. With such strong buy orders at the bottom, who would dare to dump?
View OriginalReply0
LiquidationWatcher
· 12-09 16:48
You dare to draw conclusions after just watching the market for two days? I think you just have too much free time, haha.
View OriginalReply0
PrivateKeyParanoia
· 12-09 16:48
Damn, is it really another giveaway question? Are you not lying this time? Last time you guys said the same thing.
View OriginalReply0
SerRugResistant
· 12-09 16:48
You held strong even at 90000, and you still want to wait for a correction? Looks like you just want to get stuck holding the bag.
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MetaverseHobo
· 12-09 16:36
I'll believe your theory when you dare to crash it below 90000.
View OriginalReply0
StrawberryIce
· 12-09 16:36
After watching for so long, it's still the same conclusion. I feel like I was overthinking, haha.
View OriginalReply0
AirdropAutomaton
· 12-09 16:36
You draw conclusions after just two days of monitoring the market? Yeah, right, I totally believe you. Haha.
After watching BTC's recent price action for two days, I've come to a conclusion: there's absolutely no sign of a major correction right now.
Today there are basically two likely scenarios—either it surges upward directly, or it dips slightly before pulling up again. We already saw this yesterday: a minor pullback followed by an immediate rebound. There's strong buying support at the bottom; it didn't even break below 90000. Are you still expecting a deep correction? These minor pullbacks during a rebound are classic signs of consolidation.
If the price really pulls back to around the daily mid-band, that's a textbook entry opportunity. This is the standard pattern for a strong rebound—push up to the upper band, pull back to the mid-band for a secondary confirmation, then up—pullback—breakout—pullback again—continue breaking out. So entering here or just below, and holding until next week, shouldn’t be a problem. Based on the current structure, next week is likely to see sustained upward movement, potentially until the interest rate cut news is officially released.
The first key level to watch is 95400. The first time this level is reached, expect a technical correction of some magnitude. Watch the depth and strength of the pullback to judge whether there's more room for upward movement. Of course, this is based on this week's pace; if it only reaches this level next week, be extra cautious. So, if 95400 is tested for the first time in the near term, you might consider a short trade or reduce long positions. If the correction is minor, stay bullish. In theory, the top could reach the 96000-98000 range.
Pay close attention to the 86000-88000 range. This is the area most prone to trend reversals. First, it fills the previous short gap; second, it's a key previous support level; and the timing might coincide with the interest rate cut. If there's stagnation or weakness here, go short decisively—it could very well be the starting point for the next major bearish trend, potentially down to around 70000, kicking off a new correction cycle.
To sum up the current strategy: we're still in a rebound phase within a broader downtrend, but this rebound isn't over yet—there's still short-term upside potential. In the coming days, go long around 90000 or slightly lower, take profits or try a small short at 95400. If the rebound continues, the maximum target is 96000-98000. If a short signal appears in that area, consider a long-term short position with a target around 70000.