Will Bitcoin break through the 100,000 mark today at 11.23?
Today, Bitcoin has once again reached a new high, with the price peaking at around 99,500, just a step away from 100,000. The trend aligns closely with our bullish outlook, especially since we provided a strategy yesterday for buying at 97,500-98,000, and for Ethereum at 3,060-3,030, which successfully took profit. However, Bitcoin has not yet reached our expected position of 100,000. Of course, that is only a matter of time. We secured a profit of 2,500-3,000 points.
Observing the 4-hour closing chart, it is clear that Bitcoin's rise is exhibiting a steady and slow rhythm. However, with the gradual release of volume, we must be cautious to prevent the risk of the market experiencing a pullback after a peak. In the case where the bullish trend of Bitcoin is weakening, this is something to be wary of.
However, today is Saturday, and market trading conditions may be somewhat affected. Whether the trend will continue the previous upward trajectory or revert to the earlier choppy movements remains to be tested further by the market. Personally, I believe that today the market may show a trend of probing higher followed by a pullback. The closing position will largely determine the continuation of strength or weakness in the market. Whether it will close lower after probing high or undergo horizontal consolidation and correction after probing high will decide the shift in short-term market strength. There is still a significant risk of probing high and then pulling back. Therefore, I advise investors not to blindly chase high prices today. One can consider taking short positions opportunistically after a rise to respond to possible market changes. Of course, this is merely a strategic suggestion, and specific actions should depend on individual risk tolerance and investment objectives. The operational mindset for Bitcoin remains the same as yesterday, primarily leaning towards low buying, seizing buying opportunities during market corrections, and looking forward to further validation from the market.
Buy Bitcoin around 98,000-97,500, target 100,000-110,000
Buy Ethereum around 3,220-3,250, target 3,300-3,350
—— The above article is carefully written by Li Hongqun, and the views expressed represent the author's personal opinion and do not constitute specific operational advice. The article has a lagging nature, and trading based on it is at your own risk. For more real-time analysis and trading strategy information, please click on my avatar to get more.
