🚨Breaking! US stocks surge but failed to drive BTC past 950, what does the future hold?
US stocks rebounded strongly today, with the S&P up 2.03%, the Dow up 1.23%, and the Nasdaq up 2.74%, showing significant gains compared to the opening. However, Bitcoin did not perform as strongly as expected during US trading hours; despite the high performance of US stocks, BTC only fluctuated around 935 and did not break through 950.
Today's market review
From the market perspective, the bulls indeed showed strength. Today, a long position was placed at 915, with a lowest point touching 916, but it fell short by 100 points and could not be executed. Although there was a brief pullback that did not break the high point, after opening a short at 935, the lowest point of 926 did not reach the target, ultimately resulting in a break-even stop loss.
Three possible future scenarios
Breakthrough at 910: If it breaks below 910 and retraces to 88, it may accelerate downward, targeting 98.
Break below 91: If it continues to decline and breaks below 88, the target may drop to 84, forming a double top resistance, with 88 being the key watershed.
Hold above 91: If 91 support holds effectively, after some fluctuation, it is expected to break through 95, aiming for 98, just one step away from 100,000.
Personally, I lean towards scenario 1 or 2, but it is currently difficult to judge. If it fails to break 949 before the end of the month, it may be more inclined to form a double top resistance, leading to significant pullback pressure in the future.
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