Good evening, family: Is Bitcoin going to break through the 100,000 mark tonight???
Bitcoin is the strongest, the benchmark among all cryptocurrencies. Today, in the crypto trading market, what we're doing is the game between big players and retail investors, so we need to understand the rules here. The market is currently severely lacking liquidity. Without new funds, Bitcoin can only continue to rise by draining from altcoins. In this market, we can only be bullish on Bitcoin and bearish on altcoins. Once Bitcoin stops rising and consolidates at high levels, we can then look to be bullish on altcoins.
Market Analysis:
$BTC Bitcoin broke through a new high tonight, really taking off like a rocket! At this moment, we can see that the speed of the increase is not as fierce as before. It can be vividly compared to a rocket that continues to soar after the fuel runs out, relying on the inertia created by the rise. Once the inertia disappears, it will lose the upward momentum and will start to fall. In the early morning, let's see if Bitcoin can break the 95,000 mark, and if it does, it will aim for 98,000–98,400. The current resistance level above is 95,100. If it breaks and holds, we will continue to start a one-hour price rising cycle. If the early morning market can't hold 93,400, it will drop. Pay attention to the support levels below: 92,000–91,100. If it doesn't break below, the market will once again challenge the 95,000 mark.
$ETH is being drained like altcoins. This can be seen from the market. If Bitcoin remains stagnant at a high level, it will eventually rebound and rise. Pay attention to the resistance levels above: 3212–3315. If we can't break above 3200 in the early morning, the market will continue to look for downward fluctuations and corrections. Pay attention to the support levels below: 3095–3045–2958. If we can't break below 3100, the market will look to break through 3200.
$SOL Bitcoin is being drained, and Sol isn't following the rise this time. This shows that Bitcoin really needs fuel to push up, to reach the 100,000 mark. If the market doesn't drop below 230 during the early morning, the upward trend's formation won't be damaged, and we will continue to look bullish. Pay attention to the resistance levels above: 242.55–247.17. If we break below 230, the market will correct downward. Pay attention to the current support levels: 235.34–231.63–225.51.
$DOGE The resistance point given yesterday was hit, and then it dropped, indicating that there is significant resistance above. The take profit position for short positions is around 0.42. Next, let's see if 0.378 can hold as support. If it doesn't drop below, it will continue to rise. Keep an eye on the resistance points above: 0.404–0.417. If the market drops below 0.378 in the early morning, it will challenge the support level below at 0.355. Pay attention to the support levels below: 0.355–0.342. If it breaks below 0.342, the market will go down to around 0.3, which could be a medium to long-term entry point.
