$BTC 1.09 Bitcoin Price Today:

Bitcoin is currently trading near the 91,000 level. In the past two months, market sentiment has been flipping between extremes. A few days ago, everyone was shouting about a bull market and a money-making rally, but now it has turned into a bottomless bear market. This rapid shift in sentiment is not fundamentally a trend problem, but rather because everyone is being repeatedly shaken out by the complex oscillating structure of this X wave.

Structurally, Bitcoin has fallen from 126,272 down to 80,537, completing a large W wave. Since then, from 80,537 to now, it has been in an oscillating X wave structure. The X wave itself is the most complex and irregular among all wave types. It can be composed of arbitrary oscillating structures. With the support of order flow, major players can repeatedly shake out and collect liquidity, which is the fundamental reason why the recent market is extremely difficult to trade and prone to being hit back and forth.

In summary, Bitcoin is still in the complex oscillation phase of the X wave. The direction is not important; the rhythm is. When viewed on a larger scale, the price has been fluctuating within a narrow range.