The daily candlestick chart has shown three consecutive bullish candles. How much longer can this bull market last?
At such a moment of indecision, it might be wise to consider taking a short position and waiting, better to miss some opportunities than to act blindly and make mistakes!
Currently, the actual situation in the market is that Wall Street's funds are all buying Bitcoin; those large institutions are also buying frantically. With such momentum, the price of Bitcoin is skyrocketing, and it’s hard to see where the top is.
Bitcoin has been continuously breaking historical highs, currently showing a trend of rising in one direction.
From a technical perspective, it is now very difficult to determine the upper resistance level, making it impossible to clearly judge where the peak will actually be. The price has already reached around 97800, and we are only a little short of that previously seemingly unattainable 100,000. Perhaps if the bears push a bit harder, we could see Bitcoin break through the 100,000 mark tonight.
It really feels like it's on steroids; the momentum is incredibly strong, and it is highly likely to test new highs afterwards, this is almost without doubt. For the afternoon market, the position is quite awkward, and there probably won’t be any substantial breakthroughs. If you missed the morning's upward movement, it’s safer to wait with no positions.
