On the second day of the New Year, Bitcoin welcomed a significant rebound, driving the entire cryptocurrency market to rise. The Medal had analyzed this on the previous day when the price was at 92,500 USD, to predict the turning point of the trend. At that time, Bitcoin's price had just touched the MA 60 support on the daily chart, and the bearish atmosphere was strong, with the possibility of further declines anytime. The Medal's article provided an objective technical analysis of the bearish situation and concluded with a decision to increase bullish positions. At critical points, the Medal used experience and trading systems for objective analysis, and thanks everyone for their trust in the Medal. At the same time, the Medal hopes that the bullish analysis provided can bring good returns.
Currently, Bitcoin's four-hour candlestick has broken through the downward trajectory suppression line that has lasted for several days, temporarily ending the decline and entering the early stage of an upward trend. At this time, the price's upward trend is still easily changeable, as it has not yet confirmed breaking the significant 100,000 USD mark. However, the potential for bullish action is also enormous; once it breaks through, it means the price will strongly continue to rise. The current price has already surpassed the highest price of 96,250 on December 31st, indicating that the entire rebound is in a state of high-level movement. If the price can continue to break through the high of 97,600 on December 27th, the Medal believes that consecutively breaking two highs will further strengthen the continuity of the price increase. Meanwhile, to completely change the entire bearish adjustment trend, the Medal believes the price must break through the peak high of December 26th, which is to reclaim the significant 100,000 points. This level was also mentioned in the Medal's article a week ago, with the title indicating that breaking the 100,000 points would be a sign of the start of rising. There is still a distance of 3,300 USD left; therefore, once it breaks 100,000 USD, the Medal believes that the entire upward channel will officially open, and the price will continue to advance, naturally breaking new highs.
Currently, from the details of the hourly chart, the entire upward trend and previous rebounds are clearly different. Since the drop from the new high of 108353, there have been several small and large rebounds along the way, but the entire rebound process is relatively short, and the speed of the rise is fast, which belongs to a state of inducing long positions followed by continued selling. For instance, the wave of increase from six o'clock yesterday evening shows a clear change in the lifting technique. The hourly chart shows a continuous upward movement, with the price pushing up before a brief pullback to reclaim the decline, and then continuing to break upwards. The entire process adopts an active buying method to push the price up. This method reflects a process of active buying, usually indicating a strong consensus among bulls and sufficient preparation from the main force. Therefore, based on the pattern, the probability of the price forming a continuous bullish trend this time is high, and once it breaks the 100,000 USD mark, it means that the price will officially embark on a journey to new highs.
On the 20th of this month, Old Trump will also start his administration, and his consistent policy will continue to support the development of cryptocurrency, as well as legislate to influence prices through the country's strategic reserves. From the foreseeable future, the entire market still has a solid foundation for bullish growth. After all, there has not been any major negative news in the market environment, and the timing does not allow for an early bear market. Although there has been a slight outflow of Bitcoin ETF in the past week or two, the outflow is not large and is mainly caused by retail investors' panic, while the bullish foundation remains solid.
Considering the current situation, the Medal believes that Bitcoin's price will continue to maintain a bullish trend and initiate a rise. For those who followed the Medal's strategy to participate in increasing bullish positions around 92,500, it is recommended to continue holding and set up break-even orders for entry points. For those who haven't been able to follow the strategy but wish to enter the market, they can choose to add positions after a pullback of more than 1,000 USD from the rebound top. At the same time, the altcoin market has also seen strong rises, with many coins already showing significant increases. As the market continues to heat up, coin friends can also increase their holdings of previously strong-performing coins. The Medal will continue to recommend some quality spots for participation. The Medal is here to witness Bitcoin's journey to new highs this month with everyone. The Medal is consistently watching the market in front of the computer, ready to answer questions and analyze positions at any time.
A must-read for coin friends: The main operators have diverse methods, and ordinary participants can easily be misled and incur losses. Keep an eye on the Medal to help you stand on high ground and pursue wealth in the crypto circle from a professional perspective.