📊How does #BTC determine the true start of the bull market❓

12 dic 2023

🧠From a structural point of view, we are in a decline that started under the suppression of a double-top short structure. If we want to start a bull market, the first thing to do is to break this short structure, so it is crucial to break through the short defense point above. If the breakthrough here is successful, it means that if there is no obstacle from the short structure, it is possible for us to continue the long trend. ✔️

➡️It can be seen that if we want to break through the short defense point, we will inevitably encounter great resistance, and this location overlaps with the position of fib 0.382, so we will inevitably conduct multiple tests here. The first purpose is to digest this Selling pressure at the market, two: in order to attract more funds to enter the market. When the accumulated chips are enough, we will continue to launch an upward attack. Therefore, when we break through the short defense point and there is a callback, the buying area is very worthy of attention. 👀

➡️In addition, according to the Elliott Wave Theory, if we look at it from a weekly level, we are completing the 5th wave. 📈

➡️Based on trend FIB time analysis, we may break through the previous high or reach the bull market target area around December 2024🎯

⚠️Note that technical analysis is for reference only, don’t forget risk management. If you find it useful, please don’t forget to like ❤️share my analysis post📤

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