The market is shrouded in fog. Is $BTC going to hold steady, surge wildly, or face a sharp decline?
The bull market is not over, but the bears are about to enjoy a moment because a pullback is coming soon.
BTC is about to reach $100,000, but several signals indicate that a pullback is imminent, and it will certainly be severe.
Reasons:
1. The closing price of BTC has been above the MA5 for 20 consecutive days. The highest record is 28 days, during the crazy bull market from December 2020 to January 2021.
2. Both the weekly and daily charts have broken above all technical channels, indicating extreme overbought conditions. A historical analogy would be similar to the rise from $19,000 in December 2020 to $40,000 in January 2021.
3. Many old altcoins have surged 3-5 times on a single piece of news, such as XLM, XRP, DOGE, etc.
If luck is on our side, it could last for one or two weeks.
If luck is not on our side, there could be a severe pullback within this week.
I personally have confidence that BTC will break $100,000, but it won't go too far. It might start to decline around $105,000-$110,000, so remember not to get too carried away and take profits in time.
The difference this time compared to the end of 2020 is that monetary policy is not as loose, making it unlikely to be as violent as before.
As for altcoin season, let's wait and see; let's talk about it after BTC breaks $100,000. The total market value of altcoins is still 25% away from its peak, and there is still a long way to go. I believe it won't happen all at once.
A strong breakout of BTC will confirm the bull market. Hold onto your coins well; in the next six months, every altcoin has the potential to double, just don't do anything.
Altcoins to watch: pnut pepe doge
For the upcoming layout direction, I will guide my followers to aim for the lucrative opportunities in altcoins, especially those with great potential, as doubling is quite simple.
Don't be like a headless fly bumping around; I hope to achieve multiple returns during the bull market.
The host is also preparing for next month's interest rate cut; I will escort you throughout the process, making it easy for you to get on board and enjoy the benefits of the bull market!
