Bitcoin is soaring, aiming for a big bull market to break 10,000 before the end of the month! Is it certain that Dogecoin will rise significantly? One dollar is not a dream!
Just look at the fierce momentum of Bitcoin last night; as I mentioned in my previous article, once it breaks through 97,200 to 97,700, that signals a reversal. Then it easily surpassed 98,200 to 98,800, and next is the challenge of hitting 100,000 or even higher! Bitcoin has not disappointed us and has brought great surprises to those who bought at the bottom by the end of 2024.
Right now in the market, everyone is cheerful, feeling that the situation is very favorable, but of course, there are also dissenting voices. Let's take a look from the perspectives of Bitcoin ETF buying, premium index, and leverage ratio.
The buying of Bitcoin ETFs is getting stronger and stronger, with several ETFs net inflows totaling hundreds of millions yesterday, even more than last Friday. The premium index has finally turned positive, and it's clear that buying from the U.S. has returned. The leverage ratio is also very healthy; retail investors are not following the trend this time for fear of being trapped. But we must be cautious, as we need to guard against such situations.
Overall, the market is still positive and upward, with a high likelihood of bullish trends in the short term. If Bitcoin breaks 100,000, that would be a great thing, indicating that the W double bottom has broken, and it will continue to rise! I believe that before Trump's inauguration on January 20, Bitcoin will maintain its strength. If it rises by 1% daily, it will hit 120,000 in 13 days!
However, after the rise, it may pull back a bit, especially if it returns to the 100,000 position before charging upward again; that would make for a more perfect trend. Of course, the 100,000 position may not hold steady, so we might set a higher target, like 101,200, which could facilitate transactions.
Tonight, after Wall Street gets to work, let's see if Bitcoin can rally again. Smaller cryptocurrencies can also start to pay attention because after Bitcoin's rise, it will be their turn to exert force; this is what we call sector rotation.
As for Dogecoin, I see it leading a new wave of market movements, with short-term prices aiming for 0.42. By then, the altcoin market could be ignited by a wave of upward momentum; this is a great opportunity! On January 20, the market might go crazy again!
As the market continues to change, we need to closely monitor market signals and seize new entry opportunities. Like + comment, and I'll take you through the bull market to seize this big opportunity!
