$BTC needs to break through the epic barrier of 100,000, and it will inevitably require a lot of sacrifices. First, a sharp rise to squeeze the shorts, then a steep drop to crush the longs, deceiving enough shorts before making another sharp rise, repeating this back and forth several times to get full, only then might it break through and start running wildly. After this period, it will be very difficult to buy Bitcoin below 100,000.
According to the latest data, BTC Bitcoin has experienced a significant fluctuation over the past few weeks. As of the end of November 2024, the Bitcoin price started at $67,807.44, went through multiple rises and falls, and is currently priced at $93,047.52 (according to web data), indicating a high volatility in the market. Especially on the X platform on November 27 and 29, analysts pointed out that Bitcoin broke through key resistance levels in the short term but also faced the risk of a pullback. #### **Technical Analysis** - **Support and Resistance**: From a technical perspective, Bitcoin has shown significant support and resistance areas on the 4-hour chart. There is notable resistance between $96,000 and $98,380, and these points may be good opportunities for long position liquidation in the short term. If the price confirms at these levels, it may continue to break upwards; otherwise, the risk of a pullback is significant. - **Indicator Analysis**: Technical indicators such as MACD and RSI show that BTC has recently experienced divergence, which is often a precursor to price adjustment. Particularly on November 25, market analysts indicated that the decline in Bitcoin might be due to funds flowing from BTC to altcoins, leading to a short-term price adjustment. #### **Market Sentiment and Fund Flow** - **Investor Sentiment**: Recent market analysis indicates that investor confidence in Bitcoin's long-term prospects remains intact, but there is a cautious attitude towards short-term volatility. Discussions on the X platform show that many investors are waiting for clearer market direction, especially considering that the current pullback may present new buying opportunities. - **Fund Flow**: Analysis from X shows that there has been an increase in the flow of funds from Bitcoin to other cryptocurrencies, which may be related to the short-term peak in Bitcoin prices. Investors are advised to pay attention to the dynamics of fund flow, which may indicate a turning point in the market.
Recently, Bitcoin (BTC) has exhibited several significant characteristics, influenced by various factors including market sentiment, macroeconomic policies, and technical analysis.
**Price Trend Overview** According to the latest data, Bitcoin has experienced significant volatility in recent weeks. As of the end of November 2024, the Bitcoin price started at $67,807.44, undergoing multiple rises and falls, with the current price at $93,047.52 (according to web data), indicating a high level of market volatility. Notably, on November 27 and 29, analysts pointed out that Bitcoin broke through key resistance levels in the short term, but also faced the risk of a pullback.
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To break through the epic level of 100,000, $BTC will inevitably require a large number of sacrifices. First, aggressively pull up to explode the shorts, then plunge to crush the longs, deceiving enough shorts before pulling up sharply again, repeating this back and forth several times to get full, only then is it possible to break through and start running wildly. For a period of time afterward, it will be very difficult to buy Bitcoin below 100,000.
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