Market conditions change rapidly, trading is all about the present, you sing whatever song fits the mountain you're on. Bitcoin has once again broken through new highs. From the stablecoin chart, we can see its market value is continuously increasing, preparing for 190 billion. The Bitcoin spot ETF is still in an inflow state, and the Bitcoin wallet balance continues to decrease, currently down to 2.25 million Bitcoins, still buying continuously. From the liquidation chart, there was a liquidation of 105,000 dollars today with over 800 million dollars involved. The upper resistance point remains at 108,000 dollars. Within the next seven days, there is still a possibility of a bankruptcy situation occurring at the 108,000 dollar level.
Most cryptocurrencies experienced a pullback today, with a small number of cryptocurrencies seeing an increase. BGB was sold off at 2.8; it's already over 3 now, right? It's very crazy, it was nearly sold off for almost double. When you see it can't rise, it tends to rise even more. Some money is yours, and some you can't hold onto, and there's nothing you can do about it.
The current price of Bitcoin is over 106,000 dollars. This position has already entered a certain stage; it hasn't exited a wave of climax. After this wave of climax ends, the Bitcoin market will conclude. Is it a 50% increase or 100%, right? It's within that range. When there is a period of emptiness, how do we operate? Currently, Bitcoin is 'sucking blood', and we can also see that the entire market has shown signs of excessive blood-sucking. Today, there has been an issuance of USDT, increasing by one billion dollars, and USDC has increased by fifty million dollars. So, seeing this situation, we can imagine that its price will still rise. The recent pressure level is at 127,000 dollars, so if it reaches this position, there will definitely be a wave of adjustments. On the 19th at 3 AM, there will be an announcement of a rate cut, which may be the last wave of the market before Christmas. After this wave, a pullback may occur. I remember Bitcoin always experiences a pullback every Christmas, so this time may not be an exception. If it surges to 110,000 or 120,000 dollars, a 30% pullback may occur. If a 30% pullback happens, then the level of 80,000 to 88,000 dollars may signify a bottoming out, signaling a rebound again, a very good indicator. After the rebound, altcoins and mainstream coins will experience a second wave of market activity. That means the current market value could double or triple within a month. When we approach the high point infinitely, we should directly sell off, without lingering over the remaining market. Alright, that’s all for today.
