After the Medal issued a warning of a drop near $100,000, the price of Bitcoin dropped from 99,588 to a maximum of nearly $9,000 to a minimum of 90,791. After that, the price held the 90,000 integer mark and began to rebound to a maximum of 97,200. As the bullish atmosphere in the entire market is still full, it is normal for the price to be pulled up and rebounded at any time after a relatively ideal decline. Many mainstream copycat currencies have continued to climb back to their own rising channels.
As for the future trend of BTC, as the price continues to approach the previous high during the upward process, it will still face a sell-off and fall. After all, holders who failed to escape at high prices will choose to sell and observe. The 100,000 integer mark is not as easy to break through as everyone imagined. In addition, according to the data obtained by the Medal, long-term holders have been shaken and a sell-off trend has appeared. Although many institutions and large investors have claimed to buy at high prices, buyers will do some situational thinking after fully considering the current price and room for growth. The hesitation will cause the market to have poor ability to take over, and the price will continue to decline before they have the confidence to buy a rebound.
In fact, the second and third time Bitcoin approaches the 100,000 integer mark, it will face greater pressure than the first time. After all, retail investors who have been beaten are more rational and cautious. It can be inferred that the price will still face several ups and downs near the 100,000 mark. The price is prone to reverse trend when it touches the high and low boundaries. Moreover, the weekly indicator is still in a serious overbought state and has not been able to reduce the indicator like the daily line. It is expected that the price will have a ping-pong effect in the 99,000-86,000 range. Wait for the market's chips to be fully exchanged, increase the market's average holding price cost, and lack of immediate profits to consolidate the confidence of holding positions, so that the price can successfully break through the 100,000 mark and continue to climb. In terms of operation, it is recommended that everyone reduce holdings in advance near the previous high, and then gradually increase positions when it falls back to the support. At the same time, don't worry about missing out. If you miss the rise of the big cake, there is still a season for mainstream altcoins.
A must-read for cryptocurrency enthusiasts: The main players have various trading methods, and ordinary participants can easily be confused and suffer losses. Pay attention to the medals in time to help you stand at a high position and pursue cryptocurrency wealth from a professional perspective.