$BTC Today's Analysis!
The daily trend of Bitcoin has been fluctuating recently, with resistance around 98500 and support near 93500. These two key points serve as barometers for the market, influencing the battle between bulls and bears.
Looking back at yesterday, Bitcoin experienced an extremely wild day. During the day, the price suddenly surged, reaching around 104088. This breakout above 100,000 dollars had many investors cheering, as if a new bull market was about to begin. However, the ever-changing market can be quite unpredictable. At 6 AM, a sharp downward spike occurred, with the price dipping to the daily lifeline near 90500. This extreme movement was like a fierce storm sweeping through the entire market, resulting in a devastating situation for both bulls and bears. During the day, short position holders suffered heavy losses due to the rapid price surge, while by morning, long position holders were caught off guard by the sudden drop. The futures market fell into chaos, with widespread losses, and countless investors' wealth vanished in an instant. This once again sounded the alarm for many investors, revealing the high risk associated with futures trading.
In contrast, the advantages of options trading become apparent in such extreme market conditions.
As for today, Bitcoin's resistance remains around 98500, with support near 93500. From a trading strategy perspective, the more suitable approach at present is to sell high. However, the impact of news cannot be ignored during trading. Non-farm payroll data will be released at 9:30 PM tonight, and this data often has a significant impact on market trends, with the Bitcoin market being no exception. At that time, market volatility is likely to increase significantly, and investors may consider a strategy of opening both long and short positions, but it is crucial to remember to take profits promptly when they are available, ensuring that earnings are securely captured.
Finally, in this challenging yet opportunity-filled world of cryptocurrency trading, I wish everyone a happy Friday. I hope every investor can achieve their own success and joy based on cautious decision-making.
