The trading frenzy triggered by Trump's victory continues to heat up.
The arrival of the bull market is a foregone conclusion, but the rise of BTC has still exceeded many people's expectations.
Shortly after breaking the 80,000 USD mark on the evening of November 10, BTC briefly broke through 89,000 USD on the early morning of November 12 — peaking at 89,575 USDT, showing a strong momentum to continue pushing towards the 90,000 USD mark.
Due to the overall upward trend, the total market value of cryptocurrencies has also surged rapidly. The total market value of cryptocurrencies has now surpassed 3.1 trillion USD, with a 24-hour increase of 6%.
Ten days ago, many people thought Bitcoin would rise to 70,000 USD in the short term, or touch the previous high of 73,000 USD. When I saw Bitcoin break 75,000 USD, I thought it was likely to create a short squeeze, and if it touched 80,000 USD, it would start to fluctuate. However, no one expected that Bitcoin would rise from 68,000 USD to 90,000 USD in just one week.
With two days of increasing volume, it’s difficult for the price to drop directly from this position; at most, we will see sideways fluctuations. However, no matter how it fluctuates, it’s hard for the bears to gain significant profits. According to the habits of the market makers, as long as there is a short squeeze, and if the top appears during the day, there’s a high probability that this top is a false top, and it will break through again.
The long-awaited main wave of rise has finally arrived!
The long 8-month period of consolidation has finally ended. Although the process was painful, I am still grateful to myself for believing throughout that this channel is a continuation of the upward movement, a bull flag, rather than a distribution top. It’s like waiting in the dark for dawn to arrive without knowing when, but there’s no doubt that dawn will come; it’s just that I didn’t expect it to come so quickly!
So what will happen next?
Since it is considered a bull flag, we can simply measure the bull flag target, which can reach 100,000.
After reaching this area, it may start to consolidate and form a new range of fluctuations. Those who prefer to trade in waves can wait for a relatively clear range before entering; right now, trying to catch the top is pure gambling. If you really want to test it, wait for it to break this rapidly rising trendline; at least your odds of winning will be higher.
Spot trading is stagnant, enjoying this magnificent trend. The inflow of ETFs and the issuance of USDT on-chain tell us that this time it’s not a scam; it’s real money coming in, and this is definitely not their distribution zone. If you're not onboard, you can look for similar coins that are still lagging; the market will fill in the gaps!
To clarify, don’t think that once Bitcoin hits the top, it will suddenly plummet, causing altcoins to avalanche like Solana’s meme coins; that won't happen.
This can refer to the previous double top, which is the distribution process at the daily K-line level.
Recently, the market has been doing well, and following the community has allowed me to gain quite a bit, so I'm directly in profit! Everyone can just believe in my choices! Some friends have asked me for recommendations, but when I actually recommend something, you don’t buy it; what’s the point of that? Recent performance sharing!!!
There will still be many bottom opportunities waiting for you to ambush! Bitcoin is exploding, Ethereum is starting to catch up, and next will be the performance of altcoins!
