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$BTC Bitcoin Price Today 01.07:
Yesterday, Bitcoin experienced a noticeable pullback. We mentioned yesterday that if Bitcoin drops more than $4,000 from its high, it can be confirmed that this rebound wave has ended. Currently, it has fallen by $3,500, just one small step away from confirming this condition, which is itself a very dangerous signal.
From a higher-level structure perspective, the decline starting from the 126,272 level to 80,537 is merely the completion of a Wave W downward structure. The upward rebound in the middle is essentially an X wave oscillation rebound, not a trend reversal. After the X wave ends, there is theoretically a Y wave decline, which is determined by the overall large structure.
In summary, hold onto your short positions on BCH; continue to hold. Some ZEC partners took profits during yesterday's rebound, while others did not. For those who didn't, set a stop loss at 486 as yesterday.