Today, the tenth day of the lunar new year, marks the end of the Spring Festival holiday and the official start of work. Here's a New Year's blessing for everyone:

Wishing all my friends a prosperous Year of the Dragon, may all your wishes come true, may everything you buy increase in value, and may you have a prosperous year!

Since February, the capital market has undergone earth-shaking changes!

The Dow Jones Index has repeatedly hit historic highs, the Nasdaq Index is approaching its historical high, just a stone's throw away;

The A-share market experienced a strong rebound in the last three trading days after experiencing continuous deep corrections before the holiday;

The Hong Kong stock market has risen for three consecutive days since the holiday;

Bitcoin, which was just over 42,000 points at the beginning of February, surged to over 50,000 points, reaching as high as 52,816.

2024 is destined to be an extraordinary and magnificent year!

For the cryptocurrency market, 2024 is highly anticipated and will surely go down in history!

From February to the present, the performance of the cryptocurrency market has shown signs of the prelude to a raging bull market! The strong performance of Bitcoin at present is only driven by the initial buying of Bitcoin spot ETFs. Next, it will be combined with Bitcoin's halving at the end of April, and the expected three interest rate cuts and large-scale easing by the US in the second half of the year! With so many positive factors coming one after another, it will undoubtedly expand the imagination of a raging bull market for the entire cryptocurrency market.

As small retail investors, what should we do next? How can we seize this opportunity to change our destiny with a windfall of wealth?

In summary, in 12 words: Buy on small dips, buy more on big dips, and hold for the long term!

Returning to the present, Bitcoin has already broken out with strong momentum, mainly driven by the influx of funds from major Bitcoin spot ETFs, far exceeding expectations at the end of January and early February. But is it worth chasing after at the moment? This account believes it's not quite appropriate, and it needs to be determined based on one's own position. It's not advisable to be completely out of the market, and it's even more unwise to chase after it with a full position, as even in a bull market, there will be opportunities for pullbacks.

First, let's look at the daily chart. The daily chart's central trend has broken away from the internal segment after a long period of sideways oscillation, and has once again broken out with strong volume, evolving into a non-divergent uptrend. The internal trend of the breakout segment has become relatively complex as it continues to grow. As shown in the chart, after the third penultimate central trend within the breakout segment was upgraded to a larger central trend, it once again broke out with strong upward momentum. Therefore, the uptrend will not end before a range trap appears within the breakout segment.

Of course, from another perspective, the subsequent three upward and downward movements of this upgraded penultimate central trend can also be seen as a downward retracement on the daily chart level, and 38,555 can be treated as a third buy point on the daily chart level, although it is an unconventional third buy point.

Now, let's look at the 4-hour chart. The structure shown on the 4-hour chart indicates that 38,555 is the third buy point of the second central trend, and the price has already moved far away from the yellow central trend range. It's definitely not suitable to chase after it, and those who haven't entered the market should at least wait for the appearance of the next downward retracement segment on the 4-hour chart before considering it. As for whether it will follow the red or yellow trend, further tracking and judgment are needed.

If you are interested in the "Chen Theory" and want to get free learning materials, watch public live broadcasts, participate in offline training camps, improve your trading skills with the "Chen Theory," and build your own trading system to achieve a stable profit goal, and use the "Chen Theory" to timely escape the peak and buy the bottom, you can scan the code to follow the public account and private message to add this account's WeChat to join the study group!

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