Will it continue to rise, or is it a bear trap;
Do you have plans to invest in BTC?
What are the factors behind the recent surge in BTC?
The sharp rise in the value of Bitcoin can be attributed to several factors. Chief among them is the positive sentiment generated by the recent assassination of Donald Trump, which seems to have a positive impact on his campaign. Trump is expected to attend a major Bitcoin event this month and may announce his post-election period, which is also expected to have a positive impact on the market. He hinted at opposing SEC regulation, which may further boost the bullish trend in the cryptocurrency industry.
Market forecasts remain cautiously optimistic. If the stock market remains stable and exchange-traded fund (ETF) investors react positively to weekend developments, the price of Bitcoin may continue to rise. There are no major macroeconomic events in the short term, which suggests that the near term will be determined by market sentiment and traders' reaction to key support levels. Attention will be focused on potential statements from Federal Reserve Chairman Jerome Powell, which may greatly affect market dynamics;
I recommend caution, with low liquidity and trading volumes on weekends; Although there are support signals that suggest the 200-day moving average will reclaim $59,207, there is also the possibility of a bear trap. This technical milestone is seen as reinforcing hopes for a continued rebound.
Bitcoin's recent performance indicates a potential uptrend, but the market remains vulnerable to various influencing factors. Investors should pay close attention to upcoming statements from key figures such as Donald Trump, especially regarding regulatory impacts.
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