Let's talk about whether Bitcoin can stabilize above 90,000
Bitcoin has been hovering around 90,000 for a week, and it's about to choose a direction. 99% of retail investors in the market haven't bought Bitcoin and are hoping for a dip to get in. But those institutions, capital, and big players think differently; they are determined to push Bitcoin to 100,000, or even 120,000, which is why the price is so high right now.
You see, there are still many shorts trapped in the range of 75,000 to 82,000. At the price level of 90,000, very few dare to chase the rise and enter. Contract market data suggests that if Bitcoin rises to 100,000, the shorts would lose 2.09 billion RMB. If it drops to 73,000, the longs would also lose 2.07 billion Chongqing coins. Do you think institutions will easily crash the market to let you in? They have worked hard to push it to 90,000; are they going to push it back to 75,000? That would just be pointless! Unless the peak of this Bitcoin bull market is at 93,000, then it drops directly to 40,000. But that seems too small; let's not think about that.
What will institutions do at this time? I guess they will directly push it to 100,000, maybe even stabilize it before this weekend. By then, all the shorts from 75,000 to 81,000 will be liquidated. At that point, there might be a major correction, after all, crossing the 100,000 mark is not that easy. If they first touch 100,000 and then wash the market down to 85,000, the shorts will be finished, and the longs will make a profit. Then they can pull it back to the range of 93,000 to 95,000 to continue hovering; this way, institutions can earn the most.
It's already November 19th, and in a month, it will be Christmas. Every year, before Christmas, there is a wave of pulling up, followed by a wash, and it won't start again until the Spring Festival. So in the next 2 to 3 weeks, Bitcoin will definitely rise to 100,000, and there will be a real correction by then. It might also rise directly to 120,000 and then correct back to 100,000, which would completely cross the 100,000 mark. By 2025, I estimate that Bitcoin can reach above 100,000; that’s just about 40 days away. Brothers, believe it or not!
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