Tending to see a pullback, this wave down should be the end..

Figure 1: Last week, I drew several days of symmetrical pullback, which has been achieved..
If it can avoid breaking below 92k and return to 90~91k, the bullish bias can still be maintained.

Figure 2: The total delta peak this round was -2B, now retracing back to -1.5B.. Past events of -2B:

First was December 18.. After the bears exhausted their selling, there was no more chance for 84k..

Second was January 8th, after the bears exhausted their selling, there was no more chance for 89k..

The third is today’s wave. If the continued holding bullish stance persists.. After this 91.8k dip and rebound, there might be no chance for 91k in the next 1-2 weeks..

Figure 3: The open interest across the entire network plummeted by 6K BTC, indicating bulls lost and bears took profits.. Both sides closed positions..
After closing, both sides started entering the market again rapidly...

So currently, I hope the current position at 93k can continue to range sideways for a while, exchanging chips..
If it breaks below 92k and rebounds, the bullish bias will be retracted.