$BTC

Bitcoin: Is the drop just a false move? Is breaking $100,000 still far off?

Brothers, the recent trend of Bitcoin has truly been “full of ups and downs”! It first broke the upward trend line, scaring quite a few people into going short, but the next day it made a comeback, directly standing back above the trend line. Is this operation a sign of strong bulls, or a trap set by bears? Let’s analyze it thoroughly.

Bulls hold the key, aiming directly for $100,000!

Key Point 1: 20-day moving average support is solid

On November 26, BTC broke below the upward trend line, but the bulls firmly defended the 20-day moving average ($90,700), and the buying power at this level is indeed robust.

Key Point 2: Reestablishing above the trend line, aiming higher

On November 27, Bitcoin reestablished itself above the upward trend line. As long as the price remains above the trend line, the next step could be a direct surge:

Psychological barrier of $100,000: Sellers will likely defend this level fiercely, but if the bulls are stronger, it may further test:

First target: $107,096

Second target: $128,357

Bullish Strategy:

Short-term: Current price is above the trend line, look to enter long positions on pullbacks, targeting $100,000, and if it breaks, you can chase $107,096.

Stop Loss: It is recommended to set it below the 20-day moving average to ensure controlled risk.

Bears have not exited, caution needed if support is lost

Of course, brothers also need to consider another scenario: if the bulls can’t hold, and the price falls back below the 20-day moving average ($90,700), then caution is warranted!

First target: $86,586-$85,835 range: This is an important support area, expected to see buying interest.

Bearish Strategy: If the price breaks below the 20-day moving average and rebounds weakly, consider going short, targeting the $86,586-$85,835 range.

Key Operations: Clear long and short positions, stability is key

To summarize, the current trend of BTC hinges on the upward trend line and the 20-day moving average:

If the trend line is held, bulls target $100,000 or even higher.

If it breaks below the 20-day moving average, bears will take over, targeting the $86,586-$85,835 range.

Brothers, the market is volatile, let’s not act impulsively when trading, wait for key positions to confirm before entering the market, maintain your mindset, follow the trend, and the winning rate is the way to go!