How far can Bitcoin go after hitting new highs?
Friends, keep an eye on these key points!
Family! Bitcoin has been a real thrill lately! Just after the May Day holiday, it kicked open the door to $100,000, peaking at $104,000, making the entire crypto world feel like it’s New Year’s.
However, it is now stuck oscillating between the super range of $103,000 to $110,000, like a roller coaster, making our hearts race!
Right now, the entire market is focused on the $105,000 "golden ratio line," which is no small matter—it's both the pressure point that trapped people during the crash three years ago and the bowl position on the weekly chart.
If it can hold this position, those quantitative trading robots will likely come out in force to buy, combined with the FOMO sentiment from retail investors, it could very well surge to $110,000 to $115,000 in no time.
In the chat groups of those large holders on-chain, someone has already shouted the slogan "$140,000 by year-end is not a dream!"
Don’t be fooled by the current rise; there are still some knives hanging in the background.
Data from on-chain shows that there are still 360,000 Bitcoins trapped above $100,000, held by those friends who stood guard at high positions back then. The selling pressure from their relief could flood the market.
In the futures market, funding rates have skyrocketed, indicating that the leveraged army has returned; if there’s a sudden stop, the chain reaction of liquidations could be more exciting than fireworks during the Spring Festival!
I suggest that we ordinary players focus on three things: don’t let the U.S. inflation data cause disturbances, don’t let the ETF big shots suddenly withdraw their funds, and don’t let the SEC officials conduct surprise inspections.
Remember the mantra: don’t get too carried away when prices rise, don’t max out leverage, keep some bullets ready for a waterfall, after all, one day in crypto is like a year in the real world, and caution is the key to sailing for ten thousand years!
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