The subsequent trend of Bitcoin may develop according to this script.
As an experienced investor, I would like to inform everyone that the current trend is very similar to that of 2020, both starting to rise in October and doubling by November 25.
The last round went from 10,000 to 20,000, while this time it is going from 50,000 to 100,000.
Subsequently comes the Western traditional shopping frenzy known as Black Friday, which aligns with the rule that prices tend to drop during festive seasons.
A large number of retail investors will withdraw money to spend, which will pull a significant amount of funds out of the crypto market.
Of course, the actual amount withdrawn may not be large, but many people will anticipate this kind of pullback; even if they don’t shop, they will sell at high points, and both factors will contribute to increasing the pullback effect.
The last Black Friday saw a 16% pullback in a week; this time the pullback may be slightly smaller, and the 87,500 position is a very good support level. If it reaches this point, one can enter the market directly. Additionally, the level above 90,000 is also a strong integer support level.
Looking back at the last cycle, after Black Friday, the price gradually rose back, but the increase was not large, and it consolidated for two weeks before it exploded again. This time may be similar.
Now the strength of ETH is evident, with large funds entering the market; it was able to hold steady even when Bitcoin plummeted.
Once Bitcoin warms up, ETH will start to gain momentum, and one can appropriately intervene during pullbacks.
Last night in the county, I suggested everyone to take short positions at 3460, and this morning it has already reached the target.
Long-term low multiples of ETH, SOL, and various altcoins can still be accumulated during dips. After the crypto market consolidates until early December, it will rise again, welcoming a wave of significant market movement.
