The recent back and forth in the market these past two days may signal the end of the bull market, but I don't think so. As long as the ETF is approved, there will be a continuous influx of funds into the market. The approval is expected to be at the end of the year or in March or April next year. Currently, the entire financial market is relatively sluggish, including the cryptocurrency market. I have always had a bullish view on the future market. Even though there has been a recent period of adjustment, it does not affect the arrival of a bull market at the end of the year or next year.

In most cases, the formation of a bottom involves repeated absorption and testing, especially in a ladder-like oscillating rebound structure. In a bear market, each rally is met with a large number of sell orders. However, as long as the price operates above 50% of this rebound, the bullish structure is good. If it falls below, it may weaken and need to undergo a longer period of low-level oscillation to choose a direction. I believe that next week will definitely choose to break through upwards first. It will probably take about 5 days.

Now let's return to the market trend. Yesterday, the market plummeted from around 25700 to a low near 25300, quickly rebounded to around 26050, and then fell back to around 25700 in the late night. So, how should we view the short term now? After a significant pullback, the current market needs time to repair. This repair period will be a period of oscillation. After the oscillation, it may choose to break through again and possibly quickly rise, catching many people off guard. This is generally the idea of a smart trader. So, I still emphasize a bullish view, and any pullback is only temporary. Those holding spot positions can rest assured, selling at high levels and buying at low levels is the way to go, especially at good levels. In my opinion, all pullbacks are normal for washing out chips and waiting for the opportunity to accelerate upwards.

From a daily chart perspective, yesterday closed with a doji, which means the market has been oscillating between 25300 and 26150 these days. The midline of the Bollinger Bands is near 26167, which is a critical level. We need to see if it can hold steady here. The Bollinger Bands are slowly moving upwards, and the short-term resistance is around 26200.

Looking at the 4-hour chart, the Bollinger Bands are trending downward for repair, with the midline near 25770. The short-term repair of the market will hover up and down here, with the MACD quickly trending downward. The KDJ three lines are showing signs of a golden cross.

BTC focus:

Long direction: Long at 25000-25500, stop loss at 24850, take profit at 26000-26500-27000

Short direction: Short at 26000-26200, stop loss at 26300, take profit at 25700-25500-25300

In this market, there is no shortage of teachers, analysis, or operational suggestions. What is lacking is a sincere and honest heart to do market analysis for you. I don't have fancy profit screenshots or promises of a certain percentage of returns. I only have a heart to do things honestly. If you have been consistently losing money and want to follow my lazy approach, you can follow my trend analysis. The market changes too quickly, so try to communicate with me. My daily analysis train of thought can be used for your reference. Reasonably control your positions and avoid heavy or full positions. Personal opinions are for reference only. Investment carries risks, and you are responsible for your own risks!

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