Currently, the BTC daily chart has only shown top and bottom formations on August 14, September 1, and September 14. August 14 is the highest point before the death cross, and the energy bars show divergence, with volume and price also diverging. September 1 is the lowest point before the golden cross, with energy bars slightly diverging and volume and price slightly diverging as well. The situation on September 14 is the same. Additionally, September 14 is at the fibonacci retracement level of 0.618.

This is said to draw the trend. Currently, it is the third leg of a pullback on the daily chart. From 0 to 1, it has dropped 17,000 points over 18 days. The pullback from 1 to 2 has risen 10,000 points over 17 days. Now, there are two scenarios for the third leg: the first scenario: it is longer than the first leg, then it will start from 17,000 points, which is around 100,000. The second scenario: it is shorter than the first leg. If it is shorter than the first leg, there will definitely be a third leg down. The third leg on the daily chart must be shorter than the second leg.

Today marks the seventh day of the third decline. If this decline lasts for 18 days as well, it will approximately end on October 6. If this decline exceeds 17,000 points, we can close our short positions on October 6 and observe the strength of the final decline, looking for an entry point for long positions.

If this drop is less than 17,000 points, then it will take until the end of October for the five waves of decline to complete, so I tend to think that this drop is far from over.

The only operational mistake this month was not trading Ethereum, only trading BTC. The reason is quite simple; I come from an e-commerce background, and when Jack Ma started an investment company and bought Ethereum at 4400 points, I really didn't dare to go against him. He still holds a certain weight in the minds of e-commerce people. I had previously stated that the range for Ethereum could be seen as 3900-3700. Now it seems that this level might not hold. We can focus on 3500 below, and we can just run at the same time as BTC.