Market view
The test 108366 the key area after the fall, the current triangle convergence or the end of the second test before the test high
The market view of the day before yesterday is that if it does not fall below 102700 on Monday, it will rebound after confirming the bottom, and the order block with the upper target of 108366 is vacant. After the covering was completed on Tuesday morning, the market fell again on the news.
Bitcoin retraced after testing the 103,400 range on Tuesday night and is currently trading in the 104-105 range.
The follow-up move continues to give three predictions
The first is that the triangle convergence continues, and Bitcoin will neither fall below the diagonal support nor break through the upper suppression, and continue to oscillate in the narrow range of 108-104 before going out of direction.
The second is the end of the "second probe" at the level of the level, and the market continues to test the previous high range of 110,000-112,000 yuan. Because the key position of 103 is supported, there is such an expectation.
The third is a direct drop below the test of 98 and below. This range will provide support and then bounce upwards.
Overall, our short-term judgement on the top 108366 on Monday was correct, and it was also correct to choose to take profit in time for long positions in Bitcoin. However, after the 108366 arrived, I subjectively believed that it should move above the support of 106 rather than break it, but this idea has been falsified for now. Today, Wednesday's FOMC will be a boost, and then we will look at the FOMC and the dot plot to see which direction the market will go.
This article was sponsored by #BCGAME|@bcgame @bcgamecoin
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