Many bloggers lately have been talking that this is just a Rebound, not a Reversal. They consider 'Reversal' as going up in one direction, stabilizing at 10 thousand, only going up without going down is a Reversal. I think that the understanding of Reversal like this is narrow, or can be said to be wrong. In my opinion, every time BTC approaches support around 9 thousand, holds its breath and returns to 9.6/9.7 thousand, stabilizes around 9.5 thousand, breaks through 97,200-97,700 is a Reversal, because after breaking through this, it immediately reaches 98,200-98,800, after digesting 98,200 it will attack the space above 10 thousand. After one attack and return, it will continue to attack, because today is the confirmation of Congress on Trump's inauguration, January 20 is Trump's official inauguration, during this period is a favorable expectation, not starting to rise on January 20, on January 20 favorable expectations can already sell at a high price.

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In the second half of the bullish market, there is no pure upward trend because the higher the price, the larger the financial volume needed to attract it, 100,000 is a significant point, and for retail traders after this division, above 100,000 is their high psychological level, and they are easy to sell. If there is selling, there will be a correction, but retail trader corrections tend to be small. What produces large fluctuations is only big players, and the factors that cause them to sell focus on information, especially the US Federal Reserve monetary policy, followed by factors outside the market such as war, pandemic, and so on. Therefore, even though there is no information indicating a decline, prices cannot simply rise without falling. Therefore, the reversal after the adjustment at the December 18 policy meeting cannot be understood as a pure upward trend, but as the end of the adjustment and the bearish strength becoming bullish. No interest rate reduction in January is negative information that has already been processed by the market, and the correction in the last two weeks reflects the impact of this negative information!
#GT Hits ATH – What’s Next? #Market Rebounds – What Are You Buying?