Today is a day worth remembering! At around 10:30 in the morning, Bitcoin finally broke through the 100,000 mark, and the price rushed all the way to around 104,000. This breakthrough showed us that the triangle pattern that had been consolidating before finally changed, and market sentiment also rebounded.
For the Bitcoin ecosystem projects, we can focus on BCH. Currently, it is still a little away from the high of 720 at the beginning of the year. Although it is around 600 now, there is still about 20% space from 720, and it seems that there is a chance to rise further.
In addition, STX also has a strong linkage in the morning. It is currently 30 points away from its historical high, which is worthy of attention.
If you want to make high-risk, high-reward investments, BADGER is a good choice. This project has a small market cap and great potential for the future. Just like BAKE mentioned yesterday, their prices are still low, and there is significant upside potential. The last bull market peak for BADGER was around 60, but the current price is under 5, so there is still plenty of room for growth!
Returning to Bitcoin's trend, it has recently reached new highs, and the previous leader SOL has taken a break. There may be rebound opportunities ahead. Keep an eye on the breakout situation around 241 and 246, especially since SOL has a high popularity in the U.S. It is expected to perform after the U.S. stock market opens this evening.
From the market's liquidation situation, the strength of the shorts has diminished. Bitcoin's support is around 99,000, and there may be resistance at 105,000 in the short term. Tonight, after the U.S. market opens, Bitcoin may test the area above 104,000 again, so you can prepare in advance for projects related to Bitcoin.
Currently, the long-short ratio of Bitcoin has returned to a low level, which is a risk zone. This means that although the market is a bit risky, it also indicates that the current market purchasing power is quite strong. Even if there is a short-term pullback, it is still possible to enter boldly. Just like the brief pullback in the morning, the price basically rebounded the same day.
However, the probability of holding steady at the 100,000 mark is low, so be ready to prevent pullbacks at any time. If the price drops below 96,000, consider entering boldly. Many altcoins have started to rebound, so it's best to reduce some leverage positions and remain flexible to have defensive space in case of a significant pullback.
If you are a medium to long-term investor and not watching the market full-time, you can hold with confidence, as there is still some distance to the market's peak.
Today's article ends here, welcome to come to the homepage to play together~
Investment carries risks, and the above content is purely personal sharing and does not constitute investment advice!