Shuqin: Is something big about to happen with Bitcoin? The bottom has been broken. Is this a signal for continued decline or a prelude to a rebound? Let's take a look quickly.

1. First, the conclusion: A turning point is near. As shown in the chart, Bitcoin's current trend is very classic. It is now consolidating downward, slightly breaking below the previous low but then recovering. This is likely a signal of an imminent bottom reversal! But is that really the case?
2. Yes, there's an 80% probability of that! The green circles in the chart show Bitcoin's previous major bottom formations. BTC price keeps making small new lows, breaking below previous lows but bears can't push it down much, indicating strong buying pressure. This is a characteristic of bottom building.
3. Looking at the flip side, the red circles in the chart show a classic continuation pattern after a decline. After a sharp drop, the price consolidates upward without making new small lows, and the final result is a further sharp decline.
4. The current Bitcoin trend is repeatedly breaking below previous lows. First, it broke below 60k and then rebounded. Then it broke below again, hit 59k without continuing down, and rebounded again. Last night's 58k also bounced back to 60k. This is actually a positive signal; in the long term, we expect a rebound. Once the selling pressure over the next two weeks subsides, things should look quite good.
5. So for Bitcoin and other altcoins, we can buy on dips. Yesterday, Shuqin told everyone to buy the bottom. I wonder if any of you bought? Today, it rebounded by several thousand points. Even for short-term scalping, you can do some swings. Actually, compared to the crypto market, I'm more afraid of the U.S. stock market crashing; it has risen too much.
6. If you hold semiconductor stocks, you may consider taking some profits on rallies. In May, Shuqin called for shorting Micron from 800 to 700, then reversed to long the bounce. You should still remember that. Now a month has passed, and MU has actually surged 70%. I think that's about enough. We'll operate again when there's a good opportunity~