Bitcoin pierced 92k but failed to hold, then rallied back above 94k. The support between 92k and 94k is very solid and won't be broken easily. The recent sharp drop by the market has caused tens of thousands of people to be liquidated; this washout should be preparing for a rise after Trump's return to power! Bitcoin is clearly in an oversold area on the 4-hour chart, indicating that this is a phase bottom. Currently, Bitcoin is rebounding at $92,414, receiving support.
Will Bitcoin rebound significantly? I think there should be such an opportunity. Next, we can look at the RSI indicator and the Bitcoin liquidation map indicator. (1) The RSI indicator is severely oversold, and the TD indicator has also shown 9 and 13 bottom signals. There is a high probability of a short-term rebound today, but after the rebound, it will still undergo a second test of support. Resistance is around $96,000, and support is around $92,500.
(2) Bitcoin liquidation map shows that there have been basically no long positions formed between 92k and 94k, while a large number of short positions have accumulated around $96,000-$97,000. The market will not allow these short positions to earn money easily. Combined with Trump's upcoming return to power, this creates an opportunity to liquidate those short positions.
Overall, there is no need to chase shorts today, but rather prepare to buy the dip. Since Bitcoin broke through $100k after the November 5th election, it has not effectively fallen below the $90k mark. Although this level is not impervious, countless short sellers have faced fierce resistance from bulls here. Once it rebounds to $96k-$97k, if it breaks through $98,200, it will rush towards $100k. Therefore, $93,300-$91,555 remains the range for short-term buying. Silk Road selling coins, Trump’s statements, and expectations of interest rate cuts are all just fluctuations on the path to $150k and $250k. Invest with a long-term mindset, and no one can cut you off! Firmly believe in this: everything that happens must be beneficial to me. I have lived this way for years. Don’t panic!
In terms of counterfeits, mainstream coins and memes are experiencing a widespread decline, and the on-chain market has also been affected by the launch of contracts like Swarms on Binance. Yesterday, Swarms, AI16Z, and others generally saw a significant pullback; however, a portion of the on-chain assets is still performing well: (1) Framework-type Pinppn has broken through the $100 million mark. Once it surpasses $100 million, the market cap will quickly reach $200 million. (2) Model-type MAX reached a market cap of $200 million yesterday. Although it has retraced significantly, it is still worth paying attention to. As long as the bull market persists, MAX’s model will continue to hold. (3) The main targets in DeFi + AI are BUZZ, NEUR, GRIFT, HTERM, and TRISIG. Currently, this track is only at the data analysis stage, and some have developed natural language AI finance. I believe this track, aside from frameworks, can directly reach users, so the future potential is unimaginable. I believe on-chain AI will not stop; this will be the mainstream narrative of this year. There’s nothing much else to write today; continue to scan the chain for valuable coins.
