#Hong Kong Digital Asset Policy 2.0 #

$BTC 6.29 Bitcoin price today: Bitcoin is currently at 107,000, the Elliott Wave Theory rise structure that started from the 98,115 level has been completed, and it is currently entering a sideways consolidation phase. The sideways duration has reached two days, and it is expected to continue sideways, which is a typical consolidation process after a pump.
From the perspective of this consolidation structure, under normal circumstances, it should be a three-wave correction after a five-wave pump. Currently, it may be in a small degree second wave, with an expected correction target above the 105,000 line. In terms of magnitude, this round of correction after the rise has not yet reached the 236% level, and it is expected to spike near the 236 position before continuing to rise. Personally, I lean towards a relatively shallow correction, replicating the rhythm of the previous market phase.
In summary, there is not much market activity over the weekend, mainly observing, and the small timeframe is still in a sideways movement that hasn't ended; wait for the small timeframe to spike before adding positions or getting in.