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Banmu Xia: Bitcoin may form a platform-type adjustment structure, and there may be two trading opportunities in the future.
On November 11, Chinese cryptocurrency analyst Banmuxia stated that “Bitcoin's market since August may be in a platform structure, and the current C wave may be the terminal wedge. This platform may constitute the entire adjustment's W wave. Around $108,500 to $110,000, a high-risk/reward shorting opportunity may arise. If the subsequent trend creates a new low around $95,000, it is expected to form a three-segment bottom divergence, combined with the complete end of the platform structure, which may trigger a Y wave rebound, targeting a recovery above 0.7 of the W wave height, at which point a quality go long opportunity may appear. The above are all predictions and need to be gradually verified in trading.”