Will there be a market before the Spring Festival? Analysis of Bitcoin support and highs

From my subjective point of view, there is still a possibility of a wave of market before the Spring Festival. The capital side and the sentiment side may drive the market to usher in a wave of highs in mid-to-late January.

High point expectation

I think the high point of Bitcoin will most likely appear around January 25, with a price target of around $120,000. This is a key node where market sentiment and technical aspects resonate, and it is worth paying attention to.

Key support level

The key support of the current Bitcoin cycle is in the range of $82,000-85,000. Once this support is broken, there may be a large adjustment, but as long as it is held, the probability of the market continuing to rise still exists.

Summary

The market before the festival is worth looking forward to, but we should also pay attention to the potential risk of callback after overheating of emotions. Plan your trading strategy in advance and be ready to stop profit or adjust your position at any time.