Bitcoin Hovering Around 100K - Is it Bullish or Bearish
This time of year should feel like the most festive season in the United States—reminiscent of our own New Year's Eve celebrations. Yet, in the markets, there’s an air of anticipation. Bitcoin, symbolized by the dragon, hovers near the 100,000 mark. It neither soars to the heavens nor plunges into the abyss, seemingly awaiting the midnight bell to usher in a new year and a new phase.
Christmas Eve passed without incident, and Christmas itself feels serene and steady. Still, whether before drifting to sleep or waking up, many of us find ourselves glued to the candlestick charts, watching our steadfast targets. Are we bracing for a shock or hoping for a surprise?
So far, neither has materialized. The market has moved largely as expected, with Bitcoin trading in a predictable range. Yesterday’s fluctuation between $995 and $965—a $400 swing—felt manageable and indicative of ongoing range-bound adjustments. Ethereum, on the other hand, has been slower-moving, its range narrowing further. Yesterday’s band of $3,545 to $3,435 remains intact, and today’s action is likely to remain within similar limits.
The real test lies ahead. The key moment to watch will be tomorrow morning at 7 AM when the market reopens and momentum could shift. For now, short-term strategies remain viable, but caution is essential as we approach this critical juncture. It’s time to protect recent gains and prepare for what’s next.
