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Is Bitcoin's rally over? Will it continue to plunge or rise by l

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BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Is Bitcoin's rally over? Will it continue to plunge or rise by leverage?

Bitcoin's current rally lasted 4 days and 12 hours
The lowest rebounded from US $ 6500, with a rebound high of 7870, an interval height of 1,360 knives, and an interval increase of 20.86%
Has now entered the callback phase
The trend in the callback phase will be very critical
According to the time estimation under normal circumstances (83%), it will end at about 20:00 on 12.04 (error: ± 4H, not necessarily the lowest point).
In the callback cycle, there are currently two strong structural support, 7018 (12%) and 6800 (83%).
I personally prefer the structural support of 7018 (12%). If we end the callback at this position or higher, it indicates that the subsequent market will become very impatient.
However, it is undeniable that the most likely trend objectively continues to consolidate, and there should not be too obvious trends in the short term. This sluggish trend is expected to continue until the year after.
The overall market trend may change after the year. At the same time, the mining reward in May is halved. I believe there will be a good increase.

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