2.16 Bitcoin price today: Bitcoin rose from 38,545 during the Spring Festival to another high of 52,859 yesterday.
It was originally expected that the B wave of ABC would end when it rebounded to around 48,000, but it has now reached a high of 52,800, which means that the period above exceeded expectations. The current rebound is infinitely close to the 138 position, causing a certain amount of psychological pressure.
The following is an analysis of two different trends:
Analysis 1: It is still just a strong B wave rebound, and it may need to retrace to the range of around 40,000 or even go down the track.
Analysis 2: This place may break through the time rule and form a new upward trend structure. It needs to retrace and then hit a high point, confirming the position of 38,500 as the reversal point of the new rising starting point.
Even if the Mavericks market has arrived, it still needs to be viewed according to the normal structural time, and the possibility of a C-wave decline cannot be ruled out. Don't blindly chase the rise, wait for the upward trend structure to form before considering it.
Bitcoin has a clear structure, and Ethereum is similar. Other currencies have not formed a new trend structure, and most of them are just consolidation of wave B. Therefore, beware of just a B-wave rebound and wait for more confirmation.
