What’s next for BTC?
Since taking office, Trump has been ambitious and intends to make significant moves. Within the cryptocurrency space, his influence has quietly surpassed that of Musk. Meanwhile, the Federal Reserve's interest rate cut decision is expected to be revealed this week, which will undoubtedly inject a powerful momentum into the market, leading to a series of positive market reactions. In a strong short squeeze market, Bitcoin has hit a historic high of 107,773, consolidating a seven-week upward trend, the longest since 2021. In a bull market, shorting is as futile as being a dog. Currently, after breaking the historical high during the day, the price began to fluctuate downward, but after a dip in the evening, it steadily increased again. The hourly chart has continuously closed with gains, indicating signs of upward continuation in the bullish momentum. Although there have been some downward movements in between, they have all been quickly recovered within a short time, which shows that the current bullish sentiment is still quite strong. The short-term pressure at the 108,000 level is expected to be broken through soon. With the approach of the Fed's interest rate cut, there is a high possibility that the market will digest this positive news in advance, or it is waiting to break through with the help of the news. Therefore, in the future, it is expected to continue to push towards 108,000-112,000! The current market sentiment is quite strong for bulls, and in a bullish trend, all the previous highs are just fleeting memories, all waiting to be broken, just like how Bitcoin previously broke the 100,000 line, which once seemed distant but is now a thing of the past. In this trend, I only want to focus on being bullish; even if there is a pullback, just look for other positions to go long! Acknowledge the trend, maintain a good mindset, and follow a single direction for development; there will inevitably be profits in a trending market!
