$BTC 11.18 Bitcoin price today: Bitcoin is currently around 90,000, and this wave truly reflects the "fear and greed coexist". The structure hasn't changed, and the medium term logic hasn't changed. From the medium-long term structure we drew on August 2, after the Elliott Wave Theory of Bitcoin is completed, it will ultimately reach the "70,000" to complete a major pullback.

Currently, the structure has already moved beyond a "more fierce" form; the three sawteeth are the most bearish trend in the downward movement, and it is impossible to have a fourth sawtooth. From the structural perspective, we are very close to the end of the W wave. In other words: this is the abyss of fear and also the starting point of greed.

In summary, continue to hold long positions and maintain good defenses, with a stop loss for Bitcoin long positions at 88700.

BTC6.94%

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