Analysis of the increase and sustainability of the Bitcoin bull market

From the current increase of Bitcoin ($BTC ), although there are signs of a bull market, the sustainability is still not enough to confirm the arrival of the bull market.

Looking back at historical trends: After breaking through the previous high, the Bitcoin bull market in 2021 rose for 42 consecutive days, and continued to rise for 98 days after the first retracement before reaching a high of $64,895. At present, the rise in 2024 has just broken through the previous high for 7 days, and has not yet fully demonstrated its sustainability.

Waiting for the best entry opportunity: A real bull market requires time and sufficient sustainability. Investors should be patient and wait for prices to retreat to the key EMA moving average support level, which is an ideal opportunity to build a position with a higher profit-loss ratio. Although small opportunities continue to emerge, such as yesterday's intraday volatility of Bitcoin exceeding 10%, big opportunities need to wait for the market to retreat to the key support position.

Mental management: In a bull market, rushing to "grab a handful" can easily lead to greater losses. Don’t blindly chase high prices due to FOMO (fear of missing out), the market will constantly create new entry opportunities.