New Heights Again! A 'Get Rich Quick Opportunity' Before the Federal Reserve's Meeting?

Bitcoin surged to a historic high of 106,648 in early trading, successfully stabilizing above the 100,000 mark. From a long-term trend perspective, Bitcoin's price trend continues to show a sustained bullish sentiment.

The entire market is currently closely watching a key signal: the results of the Federal Reserve's meeting on December 18. If the Federal Reserve decides to cut interest rates by 25 basis points, it will undoubtedly light a green light for the market, and the Christmas rally is expected to kick off accordingly. Bitcoin's price may also potentially surge explosively, with expectations to rise to 110,000-120,000. However, breaking through the 110,000-120,000 range will likely trigger a significant pullback.

It is important to note that there are a large number of long positions around the 96,000 level, and the market may experience a 'spike' phenomenon, leading to these long positions being forcibly liquidated. As long as Bitcoin's weekly price does not fall below 94,000, there has not yet been a clear bearish signal, but significant volatility is expected.

Additionally, the weekly chart has not yet shown a lower shadow, and it is likely to pull back around 2,000 points from the weekly opening price of 102,700. Those with sufficient positions can certainly take advantage of a short-term trade.

That said, volatility will be high, so be sure to manage positions and control risks.