Bitcoin is expected to break through 96,000 points-return to 100,000
Four-hour cycle:
Focus on the orange triangle convergence and oscillation range, the principle is the same.
The 92,000-96,000 range is seeking an effective breakthrough.
I have always said that 92,000 is the last line of defense for Bitcoin bulls. Once it falls below, there is a high probability of panic collapse.
However, although the recent trend has broken through 92,000 points, it quickly returned to the upward trend, just completing a wash, so the next trend is basically clear.
Bitcoin continues to be bullish, with a high probability of returning to $100,000
The distribution of Bitcoin's shape is clearly visible in the chart.
My firm trading philosophy: go long at low levels and set a good stop loss, for reference only.
BUY: 93500-95000 range
SL: 91000-92000 range
TP1: 97000
TP2: 99000
TP3: 100000+
Everyone has clearly realized that the strongest support level of Bitcoin is around 92000, which is also the last underwear worn by the bulls.
As the end of the triangle convergence approaches, Bitcoin and gold will definitely have a big market in the next few trading days.
1: The opportunity is right in front of us, and there must be big news this week
2: Unswervingly stick to your direction, bring a stop loss, and control the greedy desire.
3: Don't give up easily if you seize the opportunity, don't regret if you miss the opportunity, and stop the loss in time if you make a mistake.
Everything is in time.
I wish you all a happy new year
Social psychological frenzy - especially consistent with the Bitcoin market, this frenzy is like the tulip bubble in the Netherlands in the 17th century.
It must be admitted that:
Bitcoin's post-election rally has faded, and once it falls below $92,000, the cryptocurrency may soon see a sell-off that will last for several weeks and may fall another 10%.
Some technical indicators show that Bitcoin is bearish in the short term.
Bitcoin may fall to the support level around $85,000.
If the price of Bitcoin continues to fall, the next support level may be around $74,000.
Last week, Bitcoin fell below the 50-day moving average, confirming the medium-term overbought and sell signals. From now on, there is a theory to support a price correction in the first quarter of 2025.
I believe: new news is brewing, and the final direction will inevitably break out in the next two weeks.
At this time, we should remain fully rational. No one can predict the future.
Those who predict the future are either politicians or conspirators.
The only thing that makes us win can only be our mature and unchanging trading model.