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Double Disk Detection Strategy on Labor Day Night | Rebound has ended, tonight we continue to look at the decline and profit-taking
The current market is very clear: the rebound is just a correction, not a reversal.
Bitcoin's daily chart still trades within the downtrend channel, and the upper resistance has not been broken. It tried several times during the day to test the higher levels without settling, indicating weak bullish momentum. The short-term rise appears more as a trap to attract buyers, and the main trend remains under the control of sellers. As long as the price cannot break through the main resistance, it is likely to continue declining tonight.
The second disk on the four-hour level shows a record weak structure, with clear selling pressure above 2300, and the rebound strength gradually diminishes. As long as the rally cannot continue, it is easy to retreat again, which could further deteriorate market sentiment.
Bitcoin: Sell near 77,500-77,650
Target: 76,800 / 76,000 / 75,500
Defense: 78,050
Second disk: Sell near 2295-2310
Target: 2250 / 2220 / 2200
Defense: 2335
Tonight's plan is simple: the rebound offers an opportunity, and the decline is an opportunity to profit. Buying at high levels may lead to waiting too long, and patience for sell entry points is the right approach.
The hesitant rise is often a trick; the decisive and clear decline is the real market. #WCTCTradingKingPK