What to do next with $BTC ? After reading this, you'll know!
First, let's look at the big picture. The overall trend for BTC is clear: even if it drops further, the bull market is not over yet. There are signs of a pullback on the weekly chart, but the momentum on the daily chart is still quite strong.
In November 2024, the monthly chart will officially signal the start of a major bull market. So far, the monthly chart has been climbing upward. Currently, the market has a few classic mindsets.
The bulls firmly believe the bull market will continue, while the bears have almost lost their voice from shouting bearish calls. What the main players want most is to see both groups stumble. The bulls are thinking about buying the dip, holding onto their chips, and refusing to let go. The concentrated area for bulls is at 85,000, while the bears are all calling for lower prices, but as soon as the price hits a new high, they immediately stop loss.
The current bears are actually not resolute; as soon as prices rise, they quickly turn into bulls. Even if there’s a pullback, it doesn’t mean it’s the peak; at least they need to lure more bulls above 102,000 before the bears get scared and stop shorting, turning into bulls themselves, only to see a drop again, because the main players want opponents that can be liquidated. The main players can control short to medium-term trends, but the long-term trend is not something they can dictate; a long-term bull market is the way for everyone to win together.
Those who are bearish don’t dare to take large short positions; they just wait for prices to fall before chasing the shorts. If you want these people to lose money, there needs to be a sharp drop to force them into unbearable short positions. Once they truly become steadfast bears, the market will take off.
Those who are not resolute end up chasing the bulls when prices rise and chasing the bears when prices fall, resulting in continuous losses. Last month, the market was considered oversold, and a rebound is certain, but it feels like it's not quite ready yet. Overall, it’s still a slow rise with sharp drops in a bull market trend.
As the market continues to change, we need to closely monitor market signals and seize new entry opportunities. Like and comment, and let’s stand firm in the market and capture this major bull market together!
