Market Outlook

New Channel, New Expectations

Previously, I posted a scenario of an "upward channel" followed by a "breakdown" or "breakout."

The market movement has been different from our expectations. There was no breakdown, nor breakout, but rather a very "boring" sideways consolidation.

Therefore, we have drawn a new channel.

It can be seen that the price is still within the channel.

I believe that a short-term fake breakdown to the 86 range could be a buying opportunity.

The upper target is to reach 98 and above.

In the long term, after reaching above 98 and experiencing a "mid-term bear market rebound," the overall trend is downward. However, before the "mid-term bear market rebound" occurs, I believe the possibility of a deep decline (breaking below 74000) is very low.

This article is sponsored by #BCGAME｜@bcgame @bcgamecoin