#DOGE看涨情绪飙升
The market is about to touch the 90,000 mark. Considering a bunch of indicators and the entire bull market cycle, I think the bull market isn't over yet, but a short-term pullback might be on the way.
Although the bull market is still ongoing, we need to be wary of the risks of a pullback. Right now, we haven't seen any clear signs of a peak, so let's keep our cool and be patient. Do you remember that cup and handle pattern I mentioned earlier? Even if the price hits a new high, it might rise in waves. We are currently in the first wave; after that, there will likely be a pullback before reaching new highs. This isn't a 100-meter sprint; it needs to be done step by step, steadily and surely.
The key points are these:
On-chain data indicates that the supply situation on the Bitcoin blockchain shows we might be entering a high-risk zone in the short term.
In the 90,000 to 110,000 range, the pullback could be quite severe. The empty price ranges from 77,000 to 79,000, and from 82,000 to 86,000 might not provide strong support, so finding support around 81,000 or below 77,000 could be more reliable.
There’s a gap in the CME futures, and last week, Bitcoin futures showed a gap between 77,000 and 80,000, which looks like it might fall, as historical data shows that such gaps are likely to be filled within a month.
We also need to pay attention to open contracts and liquidations; around 72,000, over 5 billion was cleared, and around 77,000, another 3 billion was cleared. So, looking at it this way, a pullback in the 70,000 to 77,000 range seems quite reasonable. The market sentiment is currently a bit overheated, with the greed index reaching 87.
BN is going to be listed, and market speculation is intense, with FOMO sentiment high in the MEME coin sector. When MEME sentiment gets too high, it often signals that the market needs to cool down, so we need to be cautious with positions. Altcoins are relatively stable, with Bitcoin's dominance approaching 60%, indicating that we are still in a bull market, and people aren't in a hurry to sell BTC.
The market may continue to rise, but at the psychological barrier of 100,000, it might need to take a breather. If it falls below 80,000, that could be a good buying opportunity, with the bottom likely around 70,000. Looking at the long term, the bull market cycle appears quite complete, and the signals for a peak aren't obvious yet.
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