⚠️⚠️ Pay attention to market trends! After Bitcoin breaks above 95,000, even if it rises to 99,000, I don't feel it is a problem.
The important key positions between 90,000 and 100,000 are around 95,000 and 99,000. Simply put, these are the two high points of the upward trend. Currently, the first high point has steadily progressed and broken through, so it is not surprising for Bitcoin to rise to 99,000. Just feel free to short it, with a stop-loss set around 110,000. There is also the big 100,000 resistance above, and if it breaks through strongly again, then the stop-loss must be acknowledged, as this is a low-probability event.
The core of trading is to do two things well: increase the probability of profit and use the best strategy to manage the risk-reward ratio. When both conditions are met, it is time to enter the market; if not, just wait patiently. Over the long term, profit will be inevitable. If you can’t achieve this, it means you cannot overcome human nature; this is the reality.
Before Bitcoin enters a bull market in the second half of the year, I firmly believe there will be another significant drop. Otherwise, the pressure from positions trapped above cannot be sustained, and furthermore, the market makers would not do such a good deed. Even though it tested a bottom of 74,000 a couple of days ago, I do not believe the pressure above has been sufficiently dealt with; another significant drop is needed to drive the market to despair before the subsequent bull market can commence.
In the long term, I am bullish on Bitcoin, but in the short term, Bitcoin is in a correction phase. This is a high-probability event; expanding the range and using a sufficient risk-reward ratio to aim for a big profit is worthwhile! What do you think?
