$BTC Analysis updates (Dec.19th)
Bitcoin fluctuated between 90K and 100K for a while, and finally reached a new high of around 108K on December 17. Now a red candle has pulled the price down again. The current price is 101,120 US dollars, and it has begun to retrace upward.
Short-term trade possibility
So BTC is currently facing two possibilities. If the price successfully stays away from 99,726 (see the blue line on the chart), it will challenge the previous high of 108K in the short term; if the price cannot escape the "claw" of 99,726, it may fall back to around 92,061 (see the orange line on the chart), and then retrace upward.
BTC Near future
In the near future, BTC may sprint to 145K. Some trading analysts hold different views from me and believe that BTC can reach a maximum of 120K during this period. No matter what BTC ends up like, we can only wait for time to reveal the answer.
By the way, some analysts also say that BTC has a promising future. They are talking about a longer-term prospect, which is very likely. However, before reaching this promising future, BTC will fall after the highest value of this round. This article also tells you that the highest value of this round may be around 145K, and you should also pay attention to 120K. So when BTC reaches this highest value, you should avoid taking long position.
However, its current volatility looks like being manipulated by a powerful consortium, in order to buy as much BTC as possible between 100K and 90K. Therefore, BTC's volatility around 100K will continue for some time. This statement is actually not suitable for public disclosure, but we can regard this volatility as an opportunity. When BTC falls back to between 90K and 100K, we can consider entry.
If you are a long term investor of BTC, the waves mentioned above, you should not too worried about it, keep focus on your long time goal.