The current trend shows some conflict between high- and low-timeframe cycles. After six days and two days of sideways movement, the low-timeframe can be regarded as having completed its correction. From here, it’s possible at any moment to continue with a new 2-hour short-term bullish move; however, from the high-timeframe perspective, the indicators have just turned, and a 6-hour wave-level pullback could also unfold at any time.
As shown in Figure 1, a 6-hour wave-level correction can be initiated directly here. But the expectation is that it won’t crash; it would only be a correction of the move that started from 63,000. As long as this correction doesn’t directly turn into a crash, after the correction ends we should continue to look for upside.
As shown in Figure 2, if the six-to-two days of sideways action is actually the low-timeframe correction, then here we would expect a short-term upswing. Wait until this cycle’s upward move is completely finished, and then begin the adjustment. In addition, the probability of a sideways correction is considered higher than the probability of a downside correction.
In summary, you don’t have to bet that a correction will immediately unfold from here and short at this point. But it’s also not recommended to bet that price will continue to surge sharply upward and chase longs right at this level. You can wait for the yellow scenario in Figure 2 to play out first, and then go long.
PS: Put into plain language, the market is about to start a correction. But before that, it may still make one more small upward push. If you want to go long, it’s better to wait for a better moment or a better price; it’s not really recommended to chase longs immediately. #比特币突破76000
As shown in Figure 1, a 6-hour wave-level correction can be initiated directly here. But the expectation is that it won’t crash; it would only be a correction of the move that started from 63,000. As long as this correction doesn’t directly turn into a crash, after the correction ends we should continue to look for upside.
As shown in Figure 2, if the six-to-two days of sideways action is actually the low-timeframe correction, then here we would expect a short-term upswing. Wait until this cycle’s upward move is completely finished, and then begin the adjustment. In addition, the probability of a sideways correction is considered higher than the probability of a downside correction.
In summary, you don’t have to bet that a correction will immediately unfold from here and short at this point. But it’s also not recommended to bet that price will continue to surge sharply upward and chase longs right at this level. You can wait for the yellow scenario in Figure 2 to play out first, and then go long.
PS: Put into plain language, the market is about to start a correction. But before that, it may still make one more small upward push. If you want to go long, it’s better to wait for a better moment or a better price; it’s not really recommended to chase longs immediately. #比特币突破76000
