#BTC Yesterday’s trend was quite exciting. After the fifth wave on the hourly chart, a second-wave pullback occurred. In that pullback, the “one-wave decaying” portion decreased momentum; the entire second-wave position then turned “duo.” After the rebound pushed up, the “duo” also turned “duo” again. In total, it summed up to 2200 points. After that, it mainly oscillated within a range, and it kept running short-term. On the short-term, there’s also about a thousand-point of room. This kind of movement is also a typical correction after three bullish advances followed by a pullback correction. As we discussed earlier how to view corrections and consolidation, I won’t repeat it.

At present, the overall trend structure is still in a wave-pattern form. Once the first wave and second wave have both played out, it will try to test the third wave, but expectations for breaking the third wave aren’t strong. Right now, the weakness is mainly caused by fundamentals. But recently, fundamentals can be said to have been changing all the time—sometimes “li-kong,” sometimes “li-duo.” So still pay attention to “duo” in the fundamentals. If there is a major bullish signal (big “li-duo”) or a major bearish signal (big “li-kong”), just follow and chase it directly.

Still, “duo” is below around 766 to 763, and “kong” is around 787 to 791. #比特币反弹