At the beginning of the week, the market opened with a rise, which gives us a clear signal that the highs are constantly being refreshed. This morning, Bitcoin's price has already broken through $89,000. This bull market has far exceeded our understanding of this market!
In terms of technical structure, support is continuously being raised. The daily chart has formed a strong unilateral trend with consecutive bullish candles. The bull market has no top in sight, and a large amount of buying pressure is entering the market, pushing the price of cryptocurrencies higher. Currently, the bulls have entered a phase with no upward pressure. This wave of increase resembles the trend after the approval of the ETF at the beginning of the year. Given this momentum, we can expect it to rise at least until mid-month, especially after the dual benefits of the elections and interest rate cuts continue to ferment. The most important factors influencing Bitcoin's rise this round are the continuous capital inflow from ETFs and institutions, which is one reason; the election of Arthur to save the market is another; and the Federal Reserve's second interest rate cut this year is the third, all of which are significant drivers for Bitcoin.
Currently, there is no technical analysis to speak of, and there is no need for analysis anymore. It is better to focus on updates from the market. With the consecutive days of skyrocketing prices, we must abandon all fixed thinking and move forward with the steps of the bull market. Dare to think, dare to act, dare to look; whether you can take advantage of this wave depends on yourself! Next, it's all about going long, buying on dips, and following the trend, completely abandoning the mindset of going short. A moment of hesitation can cause you to miss the entire bull market. Going forward, we will actively and gradually look to target 93,000/97,000/100,000. There is no highest point, only higher, so let’s all go long together.
So what signals should we rely on? For example, when it starts to move, if it retraces within the range of 500-1000, we go in directly. Set a 500 stop loss; if it drops, we get stopped out. When we see a signal of stabilization and upward movement, we continue to go long. It’s all about going long, and we cannot hesitate. Remember. ~~~~
Many people are afraid to go long but are not afraid to go short; it is simply a psychological wishful thinking. The market will not change based on any individual's will. In fact, as long as you think calmly, since the long-term cycle has not peaked and the pressure levels have been broken through, the short-term support area during a pullback is where to go long.
It is this gap in understanding that buries many people on the path of going short against the trend, while those who go long walk steadily upwards. The difference between individuals is just that simple!
