May 9: Bitcoin Breaks Resistance at 98.5K: Strongly Rises to 100K Mark: Is the Peak of This Bull Market 128K?

It’s been a while since I shared my thoughts with everyone. Bitcoin has broken the key point of 98.5K, and the weekly K chart indicators' fast line has broken above the 0 axis, with a maximum surge to around 104300. This round of increase is slightly faster than the previous one, and breaking the historical high may also be quicker than the last bull market. Currently, we need to pay attention to 105700 on the weekly K chart; if it breaks through and stabilizes here again, it will accelerate the breakthrough of the historical high. If there is no breakthrough for a long time, be cautious of a pullback and a long-term consolidation. In April, Old Wang had deduced from the weekly K that the peak of this bull market would not exceed 128K. History doesn’t repeat itself, but it is often very similar. In the future, the weekly K chart is likely to show a top divergence pattern. Spot market traders need to reduce positions at highs, and the last opportunity to escape the peak is near the historical high and around 120K. Even if it reaches 128K, don’t get too caught up in that little gain or loss; tonight's strategy can be to bet within a range.

Entry Strategy

102500 for northbound: Target 2000-3000 points

105700 for southbound: Target 1500-2000 points

You can trade within the range of 102500-105700: Be sure to manage risk well.

There is no holy grail in the market, but you can become your own light. When one day you can sleep peacefully amidst volatility, smile while reviewing after taking profits or losses, and stay clear-headed when others are either fervent or desperate—at that moment, you have already transcended winning and losing.