To be honest, some people say that the current market situation of BTC is at the tail end of a bull market, which is a critical moment of life and death. The current price is around 68,000. Whether you choose to go long or short, you face greater risks.
In the past two days, BTC has been fluctuating between 65,000 and 68,000. On the daily level, the bottom of BTC is rising, and the top is also rising. The trend is still upward. But it has entered the risk area. Once it goes up, it is time to leave.
From a technical point of view, if it can effectively stand at 68,500, then breaking through 70,000 may be within one or two days. At this time, the higher the rise, the greater the risk. Looking at the ratio of long and short positions, there are many people shorting around 68,000. It can be predicted that the banker may quickly push up a few thousand points to explode the short orders, and then smash it down rapidly, or fluctuate sideways for a few days, distribute the spot chips to retail investors chasing highs, and then explode the long orders, and the retail investors chasing the longs are trapped at high levels.
Now BTC is sideways, altcoins are not moving, and may even fall slightly, which is a bit beyond my expectation. This shows that the only liquidity in the market has been drained by Bitcoin. If BTC rises and altcoins rise with it, I suggest that you sell more and more, or even short it. It is better to miss it than to make a mistake.
The US election is about to have a result, and Trump's election should be a certainty. From a relatively long-term perspective, this is a positive for the cryptocurrency world.
Brothers, this wave of oversold rebound that started on August 5 is almost over. These few days are the last madness. Most of the copycat stocks have reached the peak in September, and very few of them have broken new highs in October.
For more than half a year, Bitcoin has fluctuated between 50,000 and 70,000 yuan. I think Bitcoin will fluctuate up and down again, and altcoins will bleed! Don’t worry about the situation at this time. Clear your positions when you should, or at least lighten your positions! It is also possible that there will be no big bull market this year! It is just a slow bull market, and the big bull market will be in 25 years!
Maybe the prediction is wrong, for reference only!
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