Bitcoin may be on the verge of breaking the 90K support, which I interpret as a sign that the next broad corrective cycle MAY be starting (Wave (IV)). IF that is the case, you can take off your 200K holiday hats for at least a YEAR or two. Gold had a similar outcome a few years ago and remained in consolidation for two years before breaking out. A corrective cycle does NOT mean Bitcoin will return to 50K (although anything is possible). It simply means that there may be a prolonged consolidation on the horizon that will provide opportunities for swing trading and investing for those who know what to EXPECT.
The arrow on the chart points to the 92K support that is currently in place. Until 90K is broken, I expect at least one more attempt to test the high. This short-term rally is likely to test the 100K area. IF a higher high (break 108) is not reached on the next price rise, then it would be wise to reduce risk, lock in profits, and REDUCE expectations until the bulls are able to restore the short-term price structure.
IF 90K is broken, the next inflection point in this timeframe is the 86K area. A great profit target for those brave enough to take this thing down. If 86K is broken, then this is the area below 80K. This is just one of many scenarios, the key is to confirm price action that supports this possibility, NOT to expect it. This is NOT a game of prediction, it is a game of interpretation and correction.
With a big holiday week on the horizon, it would be best NOT to expect a LOT of action. Volume tends to be low and the moves become very muted, or you might get slow swings that just stubbornly head towards some key level. Either way, it is usually best to avoid these markets, ESPECIALLY if you are looking at the shorter time frames.
As for the 108K highs, anyone who bought anywhere above 100K is NOW under market influence. This is why I always warn my followers about buying at the high. Chances are you won't be able to lock in your profits when the peak unfolds because you won't know it's a peak until AFTER you do. When I hear about people who have NO idea what Bitcoin is but are now interested in "investing" in it, it screams that THE PARTY IS OVER, for now. The best times to enter are usually when no one is paying attention, and for Bitcoin and altcoins, that seems to take about a year or two from the peak. If you can't take the heat, don't play with fire (or Bitcoin).
Thank you for considering my analysis and perspective.