Looking at it now, it seems difficult for Bitcoin to suddenly rise to $100,000, and it is unlikely in the short term. Although $100,000 seems just a little bit away, the difference in that small distance is actually quite significant. No matter how we analyze it now, whether bearish or shorting, it all seems unconvincing; what we can do is wait.
Bitcoin has risen all the way up from $67,000, hardly pausing in between, basically just shooting up in one breath. This morning it finally pulled back to $95,800, but then turned around and surged again, and now it's almost touching the threshold of $99,000. It's been a few weeks of continuous rises, and the space for further upward movement is getting smaller. I'm not saying Bitcoin can't rise, but the closer it gets to $100,000, those who bought in before may want to withdraw, and those looking to short are starting to increase in number, which could become a stumbling block for Bitcoin's further rise.
Not to mention those grand principles and technical analysis, back at the beginning of the month, Bitcoin was still hovering around $85,000; who would have thought it could bounce up to $99,000? Now everyone feels that Bitcoin will definitely surpass the $100,000 mark, especially after the U.S. elections; if Trump comes to power, it might still be good news for Bitcoin. But you know, when the market is often one-sided, things can easily go in the opposite direction and won’t necessarily follow the majority’s will.
Now that Bitcoin has finally climbed above $99,000, those who bought in before are likely considering retreating. In the price range of $98,000 to $99,000, will you follow and buy? Are you still willing to chase the rise?
So I think Bitcoin might adjust a bit in the short term. Regardless, we need to be cautious around the $98,000 to $99,000 area. If the current price is around $98,700 to $98,800, I would consider shorting first, setting a stop loss above $100,000, and targeting the area around $96,500 to $95,500. We can reassess after reaching that point.
If you always miss the point and feel confused about how to operate, and want to keep up with learning, you need to meet one condition: you must have strong initiative, act decisively, like + leave a message, and I will help you make big money!
