$BTC
Analysis of Bitcoin's Year-End Trend:
1. Can Bitcoin reach $150,000 before the end of the year?
2. Today's BTC trading strategy:
Last week, over 500,000 people were liquidated across the network, and at the beginning of this week, another 80,000 were liquidated. This is not due to market fluctuations, but rather because of the increase in market activity and the prevalence of greedy sentiment. Those who are profitable are insatiable, while those who are at a loss are unwilling to give up, blindly chasing high prices, ultimately leading to bitter consequences.
The pinned article mentioned that the first wave of this bull market for Bitcoin saw an increase of 90%, and the second wave was similar. The current third wave has also reached this figure, and market activity has peaked.
Can Bitcoin set a new high? The aforementioned fundamentals provide some clues. Bitcoin is approaching the peak of a new range, and typically, the $100,000 range often experiences a washout. With the New Year approaching, past experiences indicate that project teams and retail investors often sell off at this time, leading to a decrease in market activity and significant drops in the overall market.
However, today is different from the past. I believe that under the shadow of greed, retail investors may be reluctant to leave the market due to their attachment to the bull market, and the leisure of the New Year may make the market even more active.
Therefore, for Bitcoin's subsequent trend, it is advisable to focus on large institutions. If institutions remain active, the upward trend will continue; if they stagnate or sell off, there will be a brief correction.
Today's trading strategy for Bitcoin.
On the daily chart, the volume is shrinking, and the upward momentum is weakening,
Support at the bottom of the range is at 101800.
Therefore, I am inclined to go long.
Limit order: Long at 103000.
Stop loss: 101400, a safer point is to protect at 98000.