Bitcoin might be due for a small rebound Looking at the monthly candlestick chart, the big guy ($BTC) has already dropped to the L3 trendline shown in the chart. Except for 2018, whenever the monthly candlestick hit this line in 2021, 2022, and 2024, it triggered a short-term rebound. In 2018, it happened in November, but before that, Bitcoin didn’t experience consecutive monthly declines. Instead, it had been moving sideways for six months before a sudden industry-wide negative event (the Bitcoin hash war) caused it to break the trendline and crash. One thing to clarify: the support line represents the price dropping to this line and ultimately holding, not invalidating just because it dips below for a few days. If it recovers by the end of the month, it still counts as successful support. For those trading contracts, take note—I’m talking spot logic here, don’t misunderstand. From a macro perspective, there isn’t any major negative news. It’s just that this year hasn’t seen large-scale liquidity entering the market. The annual balance sheet expansion is limited, and the number and scale of rate cuts are also limited, which means it’s unlikely to evolve into a new round of major QE. So, even after a rebound, things will still be tough. For now, just hang in there and wait until the end of the year to pick up the pieces! #Bitcoin #Crypto #BTC