Bitcoin bounced back after dipping to around 92,000 yesterday, rebounding a maximum of 7,000 USD, and the strength of the rebound is quite good. This should be the low point for the short term, and it should test the 100,000 USD resistance again. It may not hold here, but overall it will remain in the large range of 90,000-100,000.
BTC ETF saw a net outflow of about 270 million USD yesterday, while ETH ETF saw a net outflow of about 75 million USD. The 90K BTC seems like it was just yesterday, and now it's already heading for 100K. It seems this batch of 'dogs' is still quite polite, stopping here for now.
Everything is as expected; the funding rate has started to turn negative, and market leverage is gradually exiting. The market is likely to enter a golden volatility period that swing traders have been thinking about. At this time, as long as you don't chase longs or shorts, you won't be cut. So do not chase longs or shorts, especially longs, because many people don’t short, but chasing longs is what retail investors love to do, which is also the main reason for their losses.
In previous articles, I mentioned that first, don't worry about the end of the bull market; we are still in a bull market. Second, don't worry about altcoins; even if they drop for a month, they might rebound in just a few days. We should continue to adopt a buying approach on dips: small buys for small dips and large buys for large dips. Hold onto your spot assets, and let's reach the peak of the bull market together!
For the bulls, the hardest day has passed. Bitcoin has repeatedly corrected close to 90K, each time experiencing a rebirth. The rebound is a one-time surge to 96-97K, and after digesting the 98,200 resistance, it will push again towards 100K and above. This clearly indicates that the bull market has not ended. Many questioned yesterday whether the bull market has ended, as the entire market seemed to be in a downward structure. If it were over, the bear market would have directly gone down to 97,700, leading to a main downward wave breaking through 90K, 80K, and 70K. That is impossible at this stage. The bull market is fierce during corrections and also pushes up sharply. Bitcoin longs usually won't be stuck for more than 72 hours. Once the 98,200 resistance is digested, it will push again to 100K, 102,000+. Every time there is a correction, the bears see 80K and 70K, but haven’t given up? When it reaches 98,200, the defense point moves up to 96,850. When it reaches 99,300, the defense moves up to 98,000.
The epic altcoin season is coming! In the next month or so, BTC may fluctuate around the 100,000 high. It is expected that from late January to early February, BTC will undergo a significant correction to complete a retracement on the weekly chart. In such a market environment, we may welcome an active period for altcoins. Due to BTC's relatively high price and ample funds in the market, profit-taking may flow into ETH and other altcoins, driving their prices up. Especially ETH, which is expected to see a significant rebound trend in its exchange rate.
usual, zen, pnut, btc, move, sol, eth, doge, ena, sui, virtual, apt, mnt, pepe, uni, ada, vet, pepe, bgb short-term has all stabilized, at this moment just go all in, don’t move around, the next month will see a crazy rise, I will notify my brothers at the top, wait for my signal!
That's all for today. During the bull market phase, many people hope to create a free group chat. If you really can’t navigate the crypto space on your own, don’t force yourself; come find me to learn, stay updated, plan, embrace the bull market, improve your win rate, and bid farewell to being stuck at high positions.
