Good morning

In the article on Friday, it was indicated that the third wave of decline, which started last weekend on the 17th, would end and trigger a rebound. Indeed, after completing the last wave of decline during the day on the 22nd, the rebound began at 8 PM. However, Powell's remarks hinted at interest rate cuts, causing a sharp rise in the market, surpassing my indicated rebound target. The combination of technical and news factors intensified the rebound. Nevertheless, over the weekend, the gains from Friday were recovered, once again verifying the suspicion that the trend might change. The market continues the decline that started on the 14th; the key question is whether it can continue to go lower?
I previously judged the trend of Bitcoin to be entering a weekly correction. Since the 14th, this downward movement has basically reached its limit, the pattern is complete, and it meets the conditions to start a wave rebound. After hitting a new low this morning, a rebound has already occurred. During the day, pay attention to the resistance at 114500. Once it breaks through continuously, the daily wave rebound will begin, with the first target around 116000. You can choose to sell high and buy low. If it fails to break through 114500, the daily chart will provide another opportunity to drop to around 110000, where the daily price rebound will start.