To begin with, let's say that right now the Bitcoin price has 2 very defined levels of support and resistance:

SUPPORT: $92,000

RESISTANCE: $108,000

There are many traders, especially day traders or swing traders (who should have no problem working with these sudden fluctuations if they manage their capital well, that is, enter with a low risk for their account capital and immovable stop-losses) but many other traders are entering the market based on FOMO and do not even know in what time frame they are entering, they do not manage the risk and, much less, place stop-losses.

Hence the dramatic comments these days because, of course, vertical climbs are almost always followed by falls of a similar nature.

And I'm not even going to mention the failures I've seen with futures traders where there have been quite a few margin calls.

But hey, life goes on and as I said before, there are 2 perfectly established levels for Bitcoin in terms of support and resistance.

And if we go to the daily chart (chart 1) we can see how the price is approaching the 60-period exponential moving average from where there could be a bullish rebound "within said Time Frame".

The latter is for the short term, but the important thing comes when we go to the weekly graph or Time Frame (graph 2). There we see how the rise has been especially vertical, and although the daily graph tells us that the price is close to a rebound, I think it will not have enough strength to hold for the reasons mentioned above, because the rise needs to retreat a little and form some continuation figure on which to rely to continue rising.

Also observe how far the price still is from the exponential average (usually the price usually returns to the average sooner or later).

And finally, let's take a look at the long term (chart 3).

As you can see, the historical trend is one of pure growth, the healthiest I have ever seen! It respects all the bullish parameters and there is no threat that could break the established trend. In other words, to buy Bitcoins, close the computer and open it in 10 years (to avoid suffering a lot with the brutal corrections of cryptocurrencies that lead us to make wrong decisions).