Bitcoin briefly pierced 92k but then surged back above 94k. The support between 92k and 94k is very solid and won't be broken for a while. The recent sharp drop by the whale has caused over 100,000 liquidations. This round of washing should be preparing for a rise after Trump's inauguration! Bitcoin is evidently in an oversold zone at the 4-hour level, which indicates that this is a temporary bottom. Currently, Bitcoin is rebounding at 92,414 USD, supported by this level.
Will Bitcoin experience a significant rebound? I think there should be such an opportunity. Next, we can look at the RSI indicator and the Bitcoin liquidation map indicator.
(1) RSI indicator is severely oversold.
The RSI indicator is severely oversold, and the TD indicator has also shown buy signals at 9 and 13. There is a high probability of a short-term rebound today, but after that, it will likely test support again. Resistance is around 96,000 USD, and support is around 92,500 USD.
(2) Bitcoin liquidation map.
The liquidation map shows that Bitcoin has not formed many long positions between 92k and 94k, while a large amount of short positions has accumulated around 96,000-97,000 USD. The market won't let these short sellers profit easily. With Trump's upcoming operations, there is an opportunity to squeeze this part of the shorts.
In summary, there is no need to chase shorts today; rather, prepare to bottom-fish.
Since Bitcoin broke 100k after the November 5th elections, it has not effectively broken below 90k. Although this is not an impenetrable barrier, countless short sellers have faced fierce resistance from bulls here. A rebound to 96k-97k and a grind to break 98,200 could lead again to 100k. Therefore, 93,300-91,555 remains the range for short-term bottom fishing.
Selling coins on Silk Road, Trump's statements, and interest rate cut expectations are all just bumps on the road to 150k and 250k. Invest with a long-term mindset; no one can cut you off!
I firmly believe in one thing: everything that happens must be beneficial to me. This is how I've been living all these years. Don't panic!
In the aspect of knockoff, mainstream coins and meme coins have all fallen sharply, and the on-chain market has also been affected by the launch of contracts like swarms on Binance. Yesterday, swarms ai16z and others generally experienced a significant pullback, but part of the on-chain market still performed well.
(1) Framework type pinppn has broken through the 100 million USD mark. Once it surpasses 100 million, the market value will quickly rise to 200 million.
(2) Pattern types MAX reached a market value of 200 million USD yesterday. Although it has pulled back quite a bit, it can still be monitored. As long as the bull market continues, MAX's pattern will persist.
(3) The main targets for defi + ai; BUZZ NEUR GRIFT HTERM TRISIG. Currently, this sector is still in the data analysis stage, and some have developed natural language AI wealth management. I think this sector, aside from the framework, can directly reach users, so the future potential is unimaginable.
I believe on-chain AI will not stop; this will be the mainstream narrative this year. There's nothing much else to write today; I will continue to scan the chain for valuable coins.
