Fans asked: Will Bitcoin bottom out again?
My answer: No.
Why do you say that? Let me explain:
In the near future, it is unlikely that Bitcoin will bottom out again. There will be a small correction at most in the short term, but the overall trend is upward, with the target pointing directly to the 62,500 to 63,800 range. The rebound momentum has been strong in the past few days, and the CME gap has been filled. Next, it depends on how high it can fly.
For this rebound, we can first set the profit target in the 65,000 to 68,000 range.
After each big drop, the market will have a period of repair, and the indicators need time to adjust, which cannot be achieved overnight. Behind this rebound, the big whales bought a large amount of BTC at the bottom, which is also the reason why Bitcoin rose sharply in just one week.
Next, you can think about the following questions:
Will the rumor of a recession in the United States rise again? The market was scared last time because of this rumor. Trump is out, and the crypto market has lost a strong supporter. Now Harris is gaining momentum and the situation has changed. What does this mean for cryptocurrencies? Will Japan raise interest rates again? This directly affects the global capital flow and must be paid attention to.
In addition, the data of US stocks and Bitcoin ETFs cannot be ignored, especially the linkage between Bitcoin and Nasdaq. ETF data can reflect the buying sentiment of the US market.
Follow me and don’t get lost. I will reveal the answers to you one by one later. Remember, don’t be disrupted by the sudden black swan. In the short term, the rebound will continue, and we are waiting for good news!
