Hello, fellow cryptocurrency friends, how have you been doing lately?

It's been a while since we last discussed the market. Recently, BTC has experienced a drop after reaching the ten-thousand mark. During this pullback, have you made a profit or a loss? If you remember my previous posts, you should know that I have repeatedly warned everyone to be bearish. Therefore, during this pullback, I can say that my actual trading has doubled continuously.

Now that the price has dropped back to ten thousand, I believe everyone is concerned about whether the price will continue to fall or if the bears will stop here. Looking at the current market, let's check the four-hour chart. After reaching a new high at the top, it has been declining along the way. It has now fallen to the important support level of 112,000. This position is crucial for whether Bitcoin can hold above 100,000. However, there is no need to worry too much right now; we just need to focus on the current trend. We can observe and act accordingly in the future. Currently, on the four-hour level, a pullback and consolidation range has appeared. The chart indicates that the range is between 114,500 and 112,000. As long as the bottom does not break, we can trade within this range. If the bottom breaks, we will continue to look bearish. With that said, we just need to wait for time to validate our analysis.

So, the market outlook can continue to be bearish around the 114,500 to 114,000 range, with a target at the 112,000 level. If it breaks, we can look down towards around 108,000. These points are for reference only.

Follow the public account, and to relieve worries, only Jiang Wei can help.

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