Bitcoin suddenly plummeted through the 100,000 mark yesterday, but it has now pulled back and is consolidating above 100,000!
Based on the current trend, the position at 98,200 is likely the short-term bottom, and we will probably oscillate between 100,000 and 110,000 next.
Here, we must closely watch the movements of the US stock market! The US stock market has already reached the pressure point of previous highs, just 2%-3% away from a historical new high. If the US stock market can truly break through and reach a historical new high, Bitcoin will definitely continue to rise alongside it; however, if the US stock market turns around and adjusts here, Bitcoin will definitely be dragged down, and it might even have to test lower levels.
As for my personal operations, at this position, I would rather miss out than make a mistake; I must wait for clearer signals before taking action.
For those really looking to short-term speculate on a rebound, remember to set your stop-loss line firmly at 98,200. If this position breaks, the short-term trend will directly deteriorate, and it’s necessary to decisively cut losses.
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