At the beginning of the week, the market opened with a rise, which gives us a clear signal that the highs are continuously being refreshed. This morning, the price of Bitcoin has already broken through $89,000. This bull market has far exceeded our understanding of this market!
From a technical perspective, support levels are continuously rising. The daily chart has shown a strong bullish trend with consecutive green candles. The bull market is still valid without a clear top in sight, and a large amount of buying is entering the market, pushing the price of coins higher and higher. Currently, the bulls have entered a phase with no overhead pressure. This wave of price increase resembles the trend after the ETF approval at the beginning of the year. Looking at this momentum, it will likely rise until mid-month, especially with the dual impact of the elections and interest rate cuts continuing to ferment. The most important reasons affecting Bitcoin's rise in this round are the continuous influx of funds from ETFs and institutions, which is one; the election of Aite to save the market is two; and the Federal Reserve's second interest rate cut this year is three, all of which are significant reasons boosting Bitcoin.
Currently, there is no technical analysis to be made; it is no longer necessary to analyze. It is better to focus on updates from the market news. With several days of explosive growth, we need to set aside all fixed thinking and follow the footsteps of the bull market, daring to think, dare to act, and dare to look. Whether we can seize this wave of dividends relies entirely on ourselves!
Next, it’s all about being bullish, buying on dips, and going with the trend. We will fully commit to going long and completely abandon the idea of going short. A moment of hesitation could lead to missing the entire bull market. Looking ahead, we are actively trending towards 93,000/97,000/100,000. There is no highest point, only higher. Let's all go long together.
So, what signals should we rely on? For example, when it starts, if it pulls back in the range of 500-1000, we just go in directly. Take a 500 stop loss, and if it drops, we exit. When there is a signal for a stop in the decline, we continue to go long. It’s all about staying bullish, and we must remember not to hesitate.
During this period, have you noticed that there has been no weakness at all? The entire day has been strong, and this strength has a very clear pattern. Therefore, we should follow the trend and focus on the direction.