This round, Bitcoin has nearly reached 110,000 USD, and in the short term, it shouldn't hit 120,000 or even higher. But don't worry, there may still be opportunities ahead.
Recently, there's been heavy fighting in the Middle East, Israel and Iran are in conflict, and oil prices have skyrocketed. Israel also remotely bombed an Iranian nuclear expert, destroying a 500 million USD mansion and gold, causing widespread distress in Binance's territory. Iran will definitely retaliate, and the US has sent warships to assist Israel, this war won't stop anytime soon.
Logically, Bitcoin should rise during wartime because people see it as a safe haven, but this time it hasn't reacted at all; instead, gold has gone crazy. I've heard that the East has been buying gold like crazy these past two years, and now they've made a huge profit.
From a technical perspective, Bitcoin's daily and three-day charts have formed a dead cross, indicating that this wave of correction has just begun, and it is highly likely to drop further, with 100,000 USD probably being unsustainable.
Market makers are very skilled at playing tricks, often releasing news to aid in dumping or pumping the market; the news is just an excuse, the real goal is to harvest retail investors. So don't trust too much in any war-related good or bad news; the big trend still depends on technicals. Now that we've just had a correction, spot traders shouldn't rush in; just wait a bit longer.
Next, I will continue to position myself with smart orders. Instead of blindly exploring and failing to capture the best entry and exit points which could lead to holding losses, it's better to follow me; those who agree can come directly.
