Bitcoin has now risen to 100,000 USD, can it rise further? Has the bull market already ended?
History has actually already provided the answer. The price movement of Bitcoin is almost identical to the previous two bull markets, both starting the main upward wave in October. Currently, the bull market has only completed half of its journey, and there is still one year left for the bull market. You can look at the previous cycles; the time points will continue to rise, and the increase will not be small! I predict that Bitcoin will reach a high point around January 20th when Trump is inaugurated, approximately 120,000 USD. However, there should be 1-2 major pullbacks in between. Stay defensive and do not act too hastily!
Yesterday I suggested that Ethereum and Bitcoin retrace, and almost all have taken profits. Apart from Bitcoin being a bit weak, Ethereum still has room to catch up, achieving 140 points. Bitcoin's lowest dip was around 97,000, and the corrective rhythm after the rebound was as expected. From the perspective of recovering lost ground, the bulls will still continue, after all, if the rebound space is too large, it would alter the corrective structure of this round, so the subsequent trend will still be dominated by the bulls. Currently, the market remains focused on defining the fluctuation range or correction range, but the space does not seem too large.
For the short term, pay attention to Bitcoin around 98,000-97,800 for long positions, with the expected target around 99,500. For Ethereum, pay attention to 3,410-3,390 for long positions, with the expected target around 3,500.
